The big rally in Palantir stock hit a speed bump this week.
Dreamstime
Palantir
stock looked vulnerable to more losses on Wednesday, with a closely watched technical price level at risk that, if breached, could accelerate declines.
Palantir,
an analytics-software company, was on track for a third straight day of losses, with the stock down 1.7% in premarket trading after the shares tumbled 9.2% on Monday and shed a further 0.5% on Tuesday. Pain for the stock has come after analysts sounded the alarm over how data ownership concerns from customers—namely, the U.S. Army—could limit gains from future contracts. Palantir’s four-year, $458 million contract for the Army Data Platform is set to end within weeks.
With Palantir shares set to open around $17.90, the…
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