What's Going On With Palantir Technologies Stock?

Palantir Technologies shares traded lower on Wednesday afternoon, likely due to overall market volatility following the Federal Reserve’s interest rate decision, according to Benzinga. Palantir’s recent cybersecurity certification and U.K. defense partnership failed to boost sentiment as investors focused on competition and concerns over its high valuation. Salesforce CEO Marc Benioff’s claim of winning a major U.S. Army contract with its cheaper Missionforce solution has fueled investor concerns over Palantir’s premium pricing. Comparisons between Palantir’s lofty valuation and Cisco’s dot-com bubble trajectory have sparked fears of a potential correction.