ByTy Roush,
Forbes Staff.
Shares of Palantir fell more than 8% after market open on Tuesday, leading a broader market decline after the software firm reported better-than-expected earnings, as some economists warned of “rally exhaustion” after a meteoric rise for several stocks this year.
Palantir’s stock decreased 8.1% to around $190 shortly after trading opened Tuesday, pacing what would be the largest single-day drop for the stock since a 9.3% decline in August.
Palantir headlined broader declines across the Nasdaq, with the index down 0.9%, followed by Intel (down 4.7%), Micron (3.1%), Tesla (2.5%), Qualcomm (1.3%), Alphabet (1.1%), Microsoft (0.7%) and PayPal (2.3%).
