PLTR News: Palantir Technologies continues decline but manages to hold support

NYSE:PLTR fell by a further 1.13% on Friday despite the broader markets closing the week higher.
Palantir appoints a U.K. managing director as it furthers its reach into Europe.
Palantir continues to be a strong PIPE investor into upcoming SPAC mergers.

Stocks Reporter FXStreet

NYSE:PLTR closed the week before July 4th on a downtrend, although the stock did manage to stay above a key support level of $24.00. On Friday, shares of Palantir dipped a further 1.13% to close the trading session at $24.44, which can be seen as positive as it stayed above its 21-day moving average price. If Palantir continues to decline into next week, the stock could lose that support and all of the gains that were made over the past month could be lost. Palantir continues to be a popular stock for institutional and retail investors alike, with strong support from Reddit forums such as r/WallStreetBets, as well as popular funds like Ark Invest.

Stay up to speed with hot stocks' news!

Palantir took another step closer to solidifying its presence in Europe and the U.K. by appointing Dr. Justin Whatling as the new managing director of Palantir’s European portfolio. The data analytics company established a significant partnership with the NHS or National Health Service of England, and the hiring of Dr. Whatling will look to continue this strong relationship in the years ahead.

PLTR stock forecast

Palantir has been active with its own investing as well in recent months. The company has been acting as a PIPE investor for several high profile SPAC mergers that are in the works, including some that it already has contracts with for data analytics services. Some of the names include Lilium which is an eVTOL taxi business and Sarcos Robotics, an industrial robotics company that has investors such as Blackrock and Caterpillar Venture Capital.

Premium

You have reached your limit of 3 free articles for this month.

Start your subscription and get access to all our original articles.

Subscribe to Premium Sign In

Author

Stocks Reporter

FXStreet

EUR/USD retreats below 1.1800 following earlier rebound

EUR/USD loses its recovery momentum and trades little-changed on the day below 1.1300 in the second half of the day on Wednesday. The modest improvement seen in risk mood limits the US Dollar's gains and allows the pair to hold its ground.

GBP/USD clings to small gains above 1.3500

GBP/USD is posting moderate gains above 1.3500 on Wednesday. The pair edges higher as the US Dollar meets fresh supply amid a modest improvement seen in risk sentiment following US President Donald Trump’s first State of the Union address.

Gold rises toward $5,200, supported by geopolitics and trade jitters

Gold buyers are back in the game, eyeing $5,200 and beyonf on Wednesday after seeing a correction from monthly highs on Tuesday. The US Dollar slips after Trump’s SOTU fails to impress and as AI-driven worries ease. Dovish Fed bets also weigh. Gold looks north so long as the key 61.8% Fibo resistance at $5,142 holds on the daily chart.

Bitcoin, Ethereum and Ripple post cautious recovery amid downside risks

Bitcoin, Ethereum, and Ripple are posting a cautious recovery on Wednesday following a market correction earlier this week. BTC is approaching a key breakdown level, while ETH and XRP are rebounding from crucial support levels.

Nvidia remains at the heart of the AI boom

Nvidia remains at the heart of the AI boom, with Q4 revenue projected near $65.6–66.1 billion, nearly 70% higher year-over-year. But investors are watching cash flow, leverage, and broader AI adoption. Growth is strong, but the AI stress isn’t over.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.