Few stocks in the market have had as good a three-year run as Palantir Technologies (PLTR +1.71%). Its stock has risen an impressive 2,100% since the start of 2023, but that figure was as high as 3,100% a few months ago before the stock sold off. Palantir’s stock is now 30% down from its all-time high, vindicating projections (like mine) that it was overvalued and due for a sell-off.

Now that that’s here, investors need to reevaluate Palantir’s stock and determine whether it’s still overvalued or has sold off enough to warrant buying shares. Let’s take a look at Palantir’s stock and see if it’s overvalued now or still has more room to decline before it enters a buying zone.

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