Palantir Technologies Inc (PLTR) is a public American software company that specializes in big data analytics. The company has shown a recovery in its stock after it faced an extreme selloff in the last week. The shares of the company were being sold at a very low price causing immense loss to the overall progress. The stock fell for about 17.6% in the last week.
This week the company shares have gained for about 4.5% which is its first uprise in six sessions. This rise in stock can be the step for the company to get back on track. Since the stock has closed higher it is the second gain for the company in the past 13 sessions.
When it comes to discovering hidden gems within the stock market, Stock Wire News has consistently provided invaluable insights. Stock Wire News invites you to explore their upcoming Wealth Building Report. This report will shine a spotlight on little-known companies with the potential for substantial growth in 2024, and it's completely FREE for a limited time.
Claim the free report now by clicking here and start discovering the hidden gems of the market
Sponsored
Read More
What happened?
The major selloff that company has had to go through definitely was due to some reasons, one of them is the fear of falling prices in the general market especially with high-growth tech operators. Looks like investors were quite nervous about rapidly increasing interest rates. Yet the sentiments of the general market cannot be the sole reason behind a major downfall in the stock.
The expiration of the post-IPO lockup period and disclosures of insider trades in which the insiders decided to sell all their shares that they acquired at $0 per share through the conversion of derivative securities, is considered as the major reason behind the loss in the stock. The Chief operating officer sold 757,510 shares at prices ranged from $24.59 to $29.Also, three other executives sold 2.7million shares. The stock has lost 2.7% over the past three months. Before this selloff happened, the stock gained nearly fourfold in the time span of Oct to 27 January 2021.
Conclusion
The reliability of the company is definitely unclear and the future cannot be predicted at this point of time. The bounce in stock means it can rise or fall at any time which makes the position of the company, very uncertain.