Palantir Technologies (NASDAQ:PLTR) experienced a decline in its stock price during mid-day trading on January 2, 2025, driven by a combination of factors. The stock was down 1.7%, trading as low as $72.42, with a significant drop in trading volume, which was 47% below the average daily volume. This decline comes amid a backdrop of mixed analyst ratings, with Jefferies Financial Group recently downgrading the stock to "underperform" and setting a target price of $28.00. Despite some positive ratings, the overall sentiment remains cautious, with a majority of analysts maintaining a "hold" rating and an average target price of $41.00.
The GraniteShares 2x Long PLTR Daily ETF (PTIR) saw its price fall to $123.74, marking a 5.67% decrease from the previous close.