What's Going On With Palantir Technologies Stock?

Palantir Technologies Inc. PLTR shares are trading lower Monday amid a broader sell-off in the tech sector. Here's a look at what to know:

What To Know:

Shares of PLTR are falling on above-average trading volume Monday with more than 57.6 million shares already traded in the session. According to data from Benzinga Pro, the stock has a 100-day average volume of just under 59 million shares.

Last week, CNBC host Jim Cramer said, "I like these guys," when asked about Palantir Technologies in his "Mad Money Lightning Round."

Deepwater Asset Management's Gene Munster recently mentioned Palantir on CNBC's "Squawk Box" as a company that is undervalued and positioned to continue to ride the current artificial intelligence wave higher.

According to data from Benzinga Pro, shares of PLTR are trading above the stock's 50-day moving average of $17.49 and below its 52-week high of $21.85 set in November.

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PLTR Price Action: According to Benzinga Pro, Palantir Technologies shares are down nearly 8% at $18.71 at the time of publication.

Image: Pete Linforth from Pixabay