Palantir Stock Tanks 10% As CEO Sell Plan, Defense Budget Cuts Spark Sell-Off

Palantir Technologies Inc PLTR stock plunged 10% on Wednesday after CEO Alex Karp adopted a new trading plan to sell nearly 10 million shares over the next six months.As if that wasn't enough, reports surfaced that the Pentagon—one of Palantir’s biggest clients—has been ordered to prepare for steep budget cuts.The sell-off began after Palantir disclosed Karp’s new trading plan in a regulatory filing. While routine for executives, the sheer volume of planned sales raised eyebrows. Karp's move follows a meteo ...