2024-02-14 23:20:52 ET
Summary
- Palantir Technologies reported better-than-expected earnings, causing a surge in stock price.
- However, the stock is now heavily overbought, putting investors at risk.
- The company's sales growth in the US commercial sector does not justify its high valuation.
Palantir Technologies Inc. ( PLTR ) reported better-than-expected 4Q-23 earnings last week that caused a new wave of excitement and investor euphoria.
Palantir Technologies’ stock price surged more than 30% last week, advancing to the highest price since November 2021, but the stock is now heavily overbought which puts investors that chase the price here at great risk....
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Palantir Technologies: Valuation Unsustainable, Pullback Likely