Palantir Sinks on Planned Pentagon Budget Cuts. Is It Time to Sell the Stock?

Palantir Technologies (PLTR -4.63%) shares have been red hot for the past couple of years, but the stock was tumbling after Defense Secretary Pete Hegseth ordered the Pentagon to slash its $850 billion budget by 8%, or about $50 billion.Even more alarming is that the White House is looking to reduce the budget of the Department of Defense (DoD) by 8% a year over the next five years. The government was Palantir's largest customer in 2024, representing nearly 42% of its total revenue, with most of that coming ...