Mirabile dictu
“Palantir stock fell 10% for a second day on Thursday, adding to Wednesday’s 10% drop following a Washington Post report that said the Trump administration has told the Pentagon to plan for massive budget cuts over the next five years, casting doubt on a major source of the tech firm’s revenue.”
I’d be happy to see Pentagon funding slashed like DOGE is slashing other government programs. I’ll believe it when I see it.
Stock drops on Defense cut rumors
I’d be happy to see Pentagon funding slashed like DOGE is slashing other government programs. I’ll believe it when I see it.
Stock drops on Defense cut rumors
Palantir may make good money from its defense contracts, but it’s more a software/analytics company than what one would think of as an Aerospace/Defense contractor.
That headline is a nice story–though certainly Boeing and Lockheed Martin are not suffering so much from that same announcement–but the stock is up massively on the year, so a 10% drop doesn’t do that much damage–it’s still up about 40% YTD.
If anything, the drop looks like a buying opportunity–at least if you pretend that a stock with a P/E around 550 is a reasonable one to buy.
Don’t get me wrong; I’m not interested in buying it, and I do still think of it as the firm that rigged the 2016 U.S. election, but the idea that the DoD is going to reduce their contracts with one of the few firms that is well-positioned to help them survive those pending cuts is one to take with the proverbial 5# bag of salt.
@Ken,
Yeah, the market is overvalued right now.
Plantir and a lot of companies doing services non personal for DoD, DoT and DoE are ripe for DOGE waste discovery.
The wunderkinder need on search DoD contracting reports data bases for “services non personal”