$NVDA went up 6800% after the Tweet by Citron, Then PLTR will…？
$Palantir Technologies Inc.(PLTR)$ droped more 9% on Tuesday trading.
Got caught with 2 contracts $Palantir Technologies Inc.(PLTR)$ at $158 cost, I had thought 160 would hold but it went below😅 maybe low is near?
$Palantir Technologies Inc.(PLTR)$ fell due to two news:
citron short sell report
broad base selling of ai companies due to MIT report: 95% of generative AI pilots at companies are failing
News related:
However, look at $NVIDIA(NVDA)$ , it went up 6800% after the tweet by citron:
If we take a page from history. Then $Palantir Technologies Inc.(PLTR)$ will...?
And i think we should not worry about the fundamentals. To me, market is just finding excuse to sell down pltr due to its premium valuations.
Technically: $Palantir Technologies Inc.(PLTR)$ just closed gap at 161.
Look at previous round after closing gap: if we take a page from history on how pltr reacted after it closed the gap in March, probably $Palantir Technologies Inc.(PLTR)$ will hover around this level or go down somemore before staging a comeback.
Personally i think PLTR was trading at $160.66 prior to the earnings announcement.
So anything below $160.66 is showing that investors are negating the good earnings, which does not make sense.
For investors shortterm can look at 20%.
Normally bulls will try to make sure stock does not fall below 20%, cuz more than 20% drop signals bear market.
so at this price level, $Palantir Technologies Inc.(PLTR)$ is in bear market, that means freefall from now.
Some negative throught by fund house.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
