What Donald Trump Had To Do With Palantir’s Stock Price Plunge Wednesday
Key Takeaways
- Palantir shares plunged from their all-time highs Wednesday following a report the Trump administration has directed the Pentagon to make sizable cuts to the U.S. defense budget.
- The Washington Post reported Wednesday that Defense Secretary Pete Hegseth ordered Pentagon officials to cut the U.S. defense budget by 8% annually for the next five years.
- The move could negatively impact military contractors like Palantir, though analysts previously suggested Palantir could also benefit from the Trump administration’s focus on efficiency and AI.
Palantir (PLTR) shares plunged from their all-time highs Wednesday following a report the Trump administration directed the Pentagon to trim the U.S. defense budget.
The…
