Palantir Technologies Inc. PLTR shares are trading lower on Monday, a pullback from recent strength.
What To Know: Palantir stock has trended higher over the past week. Last Wednesday, the company was awarded a $250 million army contact for research and development services in the areas of artificial intelligence and machine learning. The news pushed the stock higher over the following days.
However, shares of Palantir have pulled back on Monday from the recent strength.
The contract coincides with CEO Alex Karp's view that there should be collaboration between tech companies and the U.S. government in terms of AI initiatives.
Related Link: Datadog Poised To Exceed Expectations Over Long-Term, Says Piper Sandler Analyst
PLTR Price Action: Shares of PLTR were down 0.94% at $15.85 at the time of publication, according to Benzinga Pro.
Image by Innova Labs from Pixabay
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