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Palantir shares post biggest daily slide since 2022 after forecast disappoints

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NEW YORK : Shares of Palantir Technologies fell 15.1 per cent on Tuesday in their biggest daily percentage drop since May 2022, a day after the data analytics company gave a revenue forecast that disappointed.The stock closed at $21.

NEW YORK : Shares of Palantir Technologies fell 15.1 per cent on Tuesday in their biggest daily percentage drop since May 2022, a day after the data analytics company gave a revenue forecast that disappointed.

Late on Monday, the company raised its annual revenue forecast amid strong demand for its services that help businesses deploy artificial intelligence applications, but the forecast missed Wall Street's lofty expectations. "While guidance for FY2024 was increased, it was lighter than expected," D.A. Davidson analysts wrote in their research note, adding that management had noted"they're seeing unavoidable headwinds in Europe."

 

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