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Benzinga

Business

Henry Khederian

Why Palantir Technologies, Shopify And Block Shares Are Falling Today

SHOP Block Palantir Technologies Shopify NYSE

Shares of technology and software companies, including Palantir Technologies Inc (NYSE:PLTR), Shopify Inc (NYSE:SHOP) and Block Inc (NYSE:SQ), are all trading lower amid overall market weakness as Russia-Ukraine escalation weighs on market sentiment.

US indices at-large are trading lower after Russia ordered troops into separatist regions of Ukraine after recognizing the Donetsk and Luhansk regions as independent.

Palantir Technologies shares are trading lower by 25.6% since last Thursday's trading session after the company reported worse-than-expected fourth-quarter EPS results.

Shopify shares are trading lower by 29.3% since last Wednesday's trading session after the company reported worse-than-expected fourth-quarter EPS and sales results.

Block shares have otherwise been trading lower by 17.2% over the past five trading sessions in sympathy with the broader market.

See Also: Why Jim Cramer Likes Upstart And This Cybersecurity Stock Being Featured On 'Mad Money' Tonight

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