Palantir Stock Declines Over 6% In Tuesday Pre-Market: What's Going On? - NVIDIA (NASDAQ:NVDA), ARK Innovation ETF (BATS:ARKK)

Core Viewpoint - Palantir Technologies Inc. reported strong third-quarter results but faced bearish sentiment from large investors, leading to a decline in its stock price [1][2][3]. Financial Performance - Palantir's Q3 revenue reached $1.18 billion, surpassing the estimated $1.09 billion, with a year-over-year increase of 63% [4]. - Adjusted earnings per share (EPS) for the quarter were 21 cents, exceeding the anticipated 17 cents [4]. - U.S. revenue grew by 77% to $883 million, with U.S. Commercial revenue increasing by 121% to $397 million and U.S. Government revenue rising by 52% to $486 million [4]. Future Outlook - The company expects revenue of approximately $1.33 billion for the current three-month period, exceeding analyst expectations of $1.09 billion [5]. Market Sentiment - Despite strong earnings, notable investors like Michael Burry and Ark Invest have taken bearish positions against Palantir, with Burry's firm holding over $1 billion in put options against AI-focused stocks, including five million on Palantir [2][3]. - Ark Invest sold 38,338 shares of Palantir stock through its ARK Innovation ETF [3]. Stock Performance - Palantir's stock has surged 175.54% year-to-date, trading at $191.82 at the time of reporting [6]. - The company holds a momentum rating of 97.91% and a low value rating of 0.55% according to Benzinga's Proprietary Edge Rankings [6].