Palantir Technologies Inc. (NASDAQ:PLTR) is experiencing a pullback as it continues to adjust following its recent debut on the Nasdaq-100 Index. The stock has been under pressure, trading down 2.3% to $73.88 as of mid-day on January 2, 2025. This marks its fifth consecutive daily loss, with the stock pulling back from a record high of $81.09 reached on December 24. Despite the recent downturn, Palantir's shares have seen a significant increase of 367% year-over-year. The options market has been particularly active, with a notable volume of calls and puts exchanged, indicating heightened interest and volatility expectations around the stock.
The GraniteShares 2x Long PLTR Daily ETF (PTIR) is reflecting this underlying weakness in Palantir's stock, with its price down to $128.22, a decline of 2.26% from the previous close.