Why Palantir Technologies Shares Are Trading Lower Today

Palantir Technologies Inc. PLTR shares are trading lower following reports indicating the company's software program used by the FBI allowed some unauthorized employees to access private data.

According to New York Post, a computer glitch in a secretive software program used by the FBI allowed some unauthorized employees to access private data for more than a year, prosecutors revealed in a new court filing.

The screw-up in the Palantir program was detailed in a letter by prosecutors in the Manhattan federal court case against accused hacker Virgil Griffith, said in the report. 

Palantir Technologies builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations.

Palantir's stock was trading about 2.6% lower at $24.44 per share Wednesday at the time of publication. The stock has a 52-week high of $45 and a 52-week low of $8.90.