The GraniteShares 2x Long PLTR Daily ETF (PTIR) closed down 5.06% on December 30, 2024, at $136.28, as Palantir Technologies Inc. (PLTR) faced a 2.4% decline amid broader market turmoil. The downturn in Palantir's stock is largely attributed to profit-taking and year-end rebalancing, which have impacted tech stocks across the board. The Nasdaq 100, heavily weighted with tech companies, saw a significant drop of 2.2% on December 27, driven by declines in major players like Tesla, Nvidia, and Microsoft. Despite Palantir's impressive 360% rise in 2024, analysts have raised concerns about its valuation, with Jefferies downgrading the stock to "underperform" due to its high price-to-revenue ratio. The stock's recent performance reflects a broader trend of tech stocks cooling off after a strong year, as investors reassess their portfolios heading into 2025.