The GraniteShares 2x Long PLTR Daily ETF (PTIR) closed down 15.62% on January 7th, ending the day at $110.65, as Palantir Technologies Inc. (PLTR) faced significant selling pressure. Palantir's stock plunged to two-week lows, dropping 6.30% to $71.14, driven by a combination of insider selling and a downgrade from Morgan Stanley. The investment firm issued an "Underweight" rating, citing overvaluation concerns and a 25% downside risk, which exacerbated the stock's decline. Additionally, Cathie Wood's Ark Invest sold 196,728 shares, raising approximately $15 million, further contributing to the downward momentum. The stock's technical outlook also deteriorated, with analysts suggesting a move below $72.42 could lead to further short-term weakness.