Palantir stock just had its worst four-day stretch since 2022 and its losing streak is on track to extend to a fifth day. Investors have been fretting about U.S. government spending cuts that could impact the data analytics and military contractor firm’s bottom line.

Palantir Technologies Inc. PLTR stock has had an incredible run over the past year. Shares have skyrocketed by an impressive 283%, outpacing the industry’s 58% growth. PLTR stock’s consistent surge reflects optimism among investors eager to tap into the rapidly growing artificial intelligence (AI) market.

Shares of Palantir Technologies ( PLTR -10.53%) are trading lower on Monday. The company's stock lost 8.4% as of 11:50 a.m. after losing as much as 11.9% earlier today. The drop comes as the S&P 500 was flat while the Nasdaq Composite lost 0.4%.