Palantir Falls For Sixth Straight Session. Retreats 18% From All-Time High.

Shares in Palantir Technologies tumbled in early action on Wednesday, declining for the sixth straight session. With Wednesday's retreat, Palantir stock is down roughly 18% from its all-time high. The Nasdaq tumbled again on Wednesday as artificial intelligence plays pulled back.

On the stock market today, Palantir stock fell 1.1% to close at 155.96 after being down over 5% at one point. Shares in Palantir dropped over 9% on Tuesday. In addition, Palantir stayed above its 50-day moving average today.

Nvidia, CoreWeave, Oracle, Arista Networks and Credo Technology also dipped on Wednesday.

Palantir stock hit an all-time high of 190 on Aug. 12. But a rotation out of some hot AI stocks appears underway. As of Wednesday's market close, shares in the maker of data analytics software were still up 1o6% in 2025.

Palantir stock has gained amid views that the company seems poised to win more U.S. government business during the Trump administration. Also, retail investor enthusiasm for generative artificial intelligence plays has lifted Palantir stock, although commercial-related revenue has yet to ramp up.

Short seller Andrew Left, founder of Citron Research, last week said he's betting against further gains for Palantir stock amid its lofty valuation. A federal judge in April rejected Left's bid to dismiss a U.S. Securities and Exchange Commission civil lawsuit.

In another development, the chief executive of well-funded, fast-growing AI startup OpenAI on Monday said an AI "bubble" could soon burst.

Palantir Stock Technical Ratings

Further, Palantir stock advanced 340% in 2024, with much of the gain coming after Donald Trump's Presidential election win.

Meanwhile, Palantir's Relative Strength Rating stands at 98 out of a best-possible 99.

PLTR stock holds a B Accumulation/Distribution Rating. That rating analyzes price and volume changes in a stock over the past 13 weeks of trading. A+ signifies heavy institutional buying; E means heavy selling. Think of a C grade as neutral.

Also, Palantir stock holds a Composite Rating of 98 out of a best-possible 99, according to IBD Stock Checkup. IBD's Composite Rating combines five separate proprietary ratings into one easy-to-use rating. The best growth stocks have a Composite Rating of 90 or better.

Palantir stock has a 21-day ATR of 4.26%. The average true range is a metric available on IBD's MarketSurge that gauges the characteristic breadth of a stock's behavior. Stocks that tend to make large jumps or dives in daily action, the kind that can trigger sell rules and shake investors out of a stock, have a high ATR. Stocks that tend to make more incremental moves have lower ATRs.

IBD suggests stocks with ATRs of up to 8%.

Follow Reinhardt Krause on X, formerly Twitter, @reinhardtk_tech for updates on artificial intelligence, cybersecurity and cloud computing.