One-time market favorite Palantir drops 10% on Monday and is now down nearly 30% from high

Core Viewpoint - Palantir Technologies' stock has experienced significant declines, dropping over 10% in a single day and more than 24% over the past week, indicating a potential loss of investor confidence [1][3]. Group 1: Stock Performance - Palantir shares fell more than 10% on Monday, marking the fourth consecutive day of losses [1]. - The stock had already decreased by 15% in the previous week, contributing to a total decline of over 24% compared to the previous week [3]. Group 2: Factors Influencing Decline - The recent stock decline was influenced by the announcement of a new stock sale plan for CEO Alex Karp, which raised concerns among investors [2]. - Comments from Defense Secretary Pete Hegseth regarding potential cuts to defense budgets have also unsettled investors, as Palantir relies significantly on government contracts [2].