PLTR News: Palantir Technologies edges lower despite yet another contract

NYSE:PLTR fell by 1.01% during a choppy session for growth stocks.
Palantir and Grupo Globo agreed to a two-year extension of their partnership.
Palantir was also tasked with joining the NIH in building the largest COVID-19 research database in the world.

Stocks Reporter FXStreet

NYSE:PLTR has met some resistance the past couple of days, even though the short-term outlook remains in a bullish trend. On Wednesday, Palantir fell for the second straight day, dipping by 1.01% to close the session at $26.36. Once again Palantir failed to breach the $27.49 price level and was quickly rejected after briefly moving into the green during intraday trading. After a recent streak of five consecutive positive days, Palantir has now fallen during consecutive sessions, which can still be seen as bullish consolidation if the price doesn’t fall below key levels like the 9-day or 21-day moving averages.

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Palantir announced it would be extending its partnership with Grupo Globo, which is Latin America’s largest media company. Grupo Globo utilizes Palantir’s Foundry software platform to provide content to its audience of over 100 million Brazillians each day in 99% of Brazilllian households. Grupo Globo also has an international presence with customers in over 190 countries around the world. The two companies originally joined forces in 2019, and the new agreement will see them work together until at least 2023.

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Palantir also reported that it is teaming up with NIH or the National Institutes of Health to build the largest centralized research database of COVID-19 patient information in the world. With well over 200 different projects, over 2 million patients, and over 7 billion rows of data to analyze, the NIH reached out to Palantir as the leader in global data analytics to organize and create this database. The partnership was awarded the AWS 2021 Global Public Sector Partner Award for Best COVID-19 Solution.

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