Palantir Technologies (PLTR) stock is retreating for a second straight day today, with the shares sinking 6% this afternoon. Today’s decline comes after Cathie Wood’s top ETFs sold nearly 200,000 shares of PLTR stock yesterday.

After a couple of huge insider sales of the company, Palantir stock ( PLTR, Financial) declined 8% on Tuesday. It fell to as low as $70.31 in the session and, by the market close, took that to $71.85.

On December 6, Sanjit Singh, a Morgan Stanley (NYSE: MS) enterprise software equity analyst, gave Palantir stock an ‘Underweight’ rating, with a $60 price target. If met, his forecast would equate to a 24.78% downside from the current price of a Palantir share.

Two analysts disagreed this morning on the attractiveness of Palantir (PLTR) stock during a joint appearance on CNBC. “Our issue with Palantir has been its valuation,” Morningstar analyst Malik Ahmed Khan said.

Shares of Palantir (PLTR) dropped more than 5% on Monday as the stock reacted to a new rating from Wall Street. Analysts from Morgan Stanley re-initiated coverage of Palantir with a “sell” recommendation.

Palantir Technologies has been a focal point for investors in 2024, fueled by its strong positioning in the AI-driven growth narrative.

Morgan Stanley assigned a new analyst to cover hot artificial intelligence stock Palantir Technologies, and the Wall Street firm joined the ranks forecasting worse times ahead for the stock.

Palantir shares, which added around $150 billion in market value last year, were a standout performer in the data analytics and AI-tech space as investors bet on the profit potent