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Here's Why Palantir Technologies Stock Sank 17.6% Last Month

·2 min read
Here's Why Palantir Technologies Stock Sank 17.6% Last Month
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Shares of Palantir Technologies (NYSE: PLTR) sank 17.6% in July, according to data from S&P Global Market Intelligence. Despite debuting a new product offering for its Foundry data analytics platform and announcing continued collaboration with the U.S. government on vaccine distribution projects, the stock lost ground amid market volatility. With concerns related to faster-than-anticipated inflation and the coronavirus delta variant, investors shied away from riskier tech stocks, and Palantir ended the month down double digits as a result of these trends.