Have you heard about the latest developments surrounding Palantir shares? The outlook for the company, which offers innovative data analysis software under CEO Alex Karp, has deteriorated significantly due to the Pentagon's new austerity plans.
US Secretary of Defense Pete Hegseth has announced that around USD 50 billion will be cut from the budget for the coming financial year. These cuts mainly affect programs that were launched during the Biden administration and are now to be used for Donald Trump's security policy priorities.
This news has caused the Palantir share $PLTR (-3,33%) fall by almost 4 percent in pre-market trading. At the beginning of February, the shares had experienced an impressive rise of over 20 percent after the company presented excellent business figures.
If the savings really do become reality, this could have serious consequences for Palantir. What do you think about the future of Palantir shares? 📈