What's Going On With Palantir Technologies Stock?

Palantir Technologies, Inc. PLTR shares are trading lower Tuesday, and the stock is down more than 17% over the past month. Here's a look at what's going on.

What To Know:

Though Palantir shares fell in December, the stock remains up by more than 150% over the past year.

Palantir announced the extension of its partnership with the U.S. Army's Program Executive Office for Enterprise Information Systems (PEO EIS) to continue operating the Army Vantage data-driven operations and decision-making platform on Dec. 19. The contract is a one-year extension of an on-going partnership, and the total contract value is $115.04 million.

In early December, Cathie-Woods led Ark Invest purchased a total of 1,578,738 Palantir shares in transactions valued at $27.04 million, and last Wednesday, Ark Invest sold 101,921 shares of Palantir through ARKW in a transaction valued at $1.8 million.

According to data from Benzinga Pro, Palantir shares are trading above the stock's 50-day moving average of $18.04 and below its 52-week high of $21.85.

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PLTR Price Action: According to Benzinga Pro, Palantir Technologies shares are down 2.8% at $16.69 at the time of publication.

Image: Pete Linforth from Pixabay