tsla

Tech Stock Extends Losses Despite Additional Contract

Plus, shorts have been building their positions

Digital Content Manager
Dec 2, 2021 at 2:08 PM
facebook X logo linkedin


The shares of Palantir Technologies Inc (NYSE:PLTR) are down 0.4% to trade at $19.32 at last check, despite the company securing an additional $43 million contract from Space Systems Command (SSC), bringing the total face value of the contract to $91.5 million. Separately, the tech concern signed a multi-year agreement with Kinder Morgan (KMI) to strengthen pipeline operations. 

The last time we checked on Palantir Technologies stock, it was falling after CEO Alex Karp called on tech companies to justify doing business with China or other U.S. rivals. The security has since extended those losses, pressured lower by the 10-day moving average. Year-to-date, PLTR has shed 18.1%, though the $19 level looks liked it could contain today's pullback.

PLTR 10 Day

The brokerage bunch leans pessimistic. Of the five analysts in coverage, all but one call PLTR a tepid "hold" or worse. Meanwhile, the stock's 12-month consensus target price of $23.81 is a 23.6% premium to current levels.

Short sellers have been piling on the equity of late. Short interest rose 44.5% in the most recent reporting period, with the 90.74 million shares sold short now accounting for 5.5% of the stock's available float.

 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.