Palantir Technologies (PLTR) is facing significant challenges, with its shares dropping 30% from their 52-week high in February.
This decline reflects a larger trend in the market, particularly impacting stocks tied to the so-called Trump Trade. Recently, Jefferies released a report detailing that Palantir CEO Alex Karp sold $45 million worth of stock, offloading about 21% of his stake over the past six months.
Jefferies senior analyst Brent Thill joins Market Domination hosts Josh Lipton and Julie Hyman to shed light on these developments along with the Karp’s latest stock sale.
“He built a great company, and he’s selling it at a high. We’ve said this, the multiples [are] unsustainable. There’s been no software stock that’s ever traded sustainable at this multiple, so we’re we’re seeing that Palantir may be unique and different,” Thill explains.
Thill further clarifies the situation: “We’re trying to separate the execution of the company and the valuation.”
Additionally, Thill highlights the challenge of maintaining such high multiples. He draws a comparison, saying, “It’s like trying to live on the top of Mount Everest with that multiple.”
To watch more expert insights and analysis on the latest market action, check out more Market Domination here: https://finance.yahoo.com/videos/series/market-domination/
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