PLTR News: Palantir Technologies continues decline but manages to hold support


  • NYSE:PLTR fell by a further 1.13% on Friday despite the broader markets closing the week higher.
  • Palantir appoints a U.K. managing director as it furthers its reach into Europe.
  • Palantir continues to be a strong PIPE investor into upcoming SPAC mergers.

NYSE:PLTR closed the week before July 4th on a downtrend, although the stock did manage to stay above a key support level of $24.00. On Friday, shares of Palantir dipped a further 1.13% to close the trading session at $24.44, which can be seen as positive as it stayed above its 21-day moving average price. If Palantir continues to decline into next week, the stock could lose that support and all of the gains that were made over the past month could be lost. Palantir continues to be a popular stock for institutional and retail investors alike, with strong support from Reddit forums such as r/WallStreetBets, as well as popular funds like Ark Invest.


Stay up to speed with hot stocks' news!


Palantir took another step closer to solidifying its presence in Europe and the U.K. by appointing Dr. Justin Whatling as the new managing director of Palantir’s European portfolio. The data analytics company established a significant partnership with the NHS or National Health Service of England, and the hiring of Dr. Whatling will look to continue this strong relationship in the years ahead. 

PLTR stock forecast

Palantir has been active with its own investing as well in recent months. The company has been acting as a PIPE investor for several high profile SPAC mergers that are in the works, including some that it already has contracts with for data analytics services. Some of the names include Lilium which is an eVTOL taxi business and Sarcos Robotics, an industrial robotics company that has investors such as Blackrock and Caterpillar Venture Capital. 

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

EUR/USD treads water just above 1.0400 post-US data

EUR/USD treads water just above 1.0400 post-US data

Another sign of the good health of the US economy came in response to firm flash US Manufacturing and Services PMIs, which in turn reinforced further the already strong performance of the US Dollar, relegating EUR/USD to the 1.0400 neighbourhood on Friday.

EUR/USD News
GBP/USD remains depressed near 1.2520 on stronger Dollar

GBP/USD remains depressed near 1.2520 on stronger Dollar

Poor results from the UK docket kept the British pound on the back foot on Thursday, hovering around the low-1.2500s in a context of generalized weakness in the risk-linked galaxy vs. another outstanding day in the Greenback.

GBP/USD News
Gold keeps the bid bias unchanged near $2,700

Gold keeps the bid bias unchanged near $2,700

Persistent safe haven demand continues to prop up the march north in Gold prices so far on Friday, hitting new two-week tops past the key $2,700 mark per troy ounce despite extra strength in the Greenback and mixed US yields.

Gold News
Geopolitics back on the radar

Geopolitics back on the radar

Rising tensions between Russia and Ukraine caused renewed unease in the markets this week. Putin signed an amendment to Russian nuclear doctrine, which allows Russia to use nuclear weapons for retaliating against strikes carried out with conventional weapons.

Read more
Eurozone PMI sounds the alarm about growth once more

Eurozone PMI sounds the alarm about growth once more

The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.

Read more
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

Forex MAJORS

Cryptocurrencies

Signatures