Palantir's Retail Investor Exodus Sends Stock Plunging
Retail investor purchases of Palantir's stock have fallen off a cliff since early February, according to new data from Vanda Research. The peak in retail purchases of Palantir came in mid-January as momentum traders rode one of their favorite stocks. Palantir shares hit a record high on Feb. 18 and have since plunged 32%.
- The sudden loss of retail investor enthusiasm for Palantir highlights the vulnerability of growth stocks to macroeconomic headwinds, particularly when insiders begin to sell off their stakes.
- Will the recent decline in Palantir's stock serve as a harbinger for other high-growth tech names struggling to maintain momentum in a more normalized market environment?