Palantir Technologies (PLTR) shares plunged Monday, extending losses following a report last week that the Trump administration directed the Pentagon to make 澳洲幸运5官方开奖结果体彩网:significant cuts to the U.S. defense budget. 

The company’s stock dropped over 10%, making it the leading decliner on the 澳洲幸运5官方开奖结果体彩网:S&P 500. The data analytics software company’s stock has lost more than a quarter of its value since The Washington Post's report Wednesday—coming off a recor🦩d high just a day eaไrlier. 

Defense Secretary Pete Hegseth reportedly ordered Pentagon officials to cut the U.S💞. defense budget by 8% annually for the next five yearꦯs. That raised worries Palantir could be negatively impacted as a contractor for the U.S. military.

Some analysts, including those from 澳洲幸运5官方开奖结果体彩网:Wedbush and Loop Capital, have since suggested the selloff could present an opportunity to 澳洲幸运5官方开奖结果体彩网:buy the dip, expecting Palantir may instead benefit from efforts to streamline operation♛s in a tigh🗹ter spending environment.

Shares of Palantir are well into 澳洲幸运5官方开奖结果体彩网:correction territory since Tuesday’s record high, but the stock has 澳洲幸运5官方开奖结果体彩网:roughly quadrupled in value over the past 12 months. 

UPDATE—Feb. 24, 2025: This article has been updated since it was first published to reflect more recent share price values.