The GraniteShares 2x Long PLTR Daily ETF, which tracks Palantir Technologies, is experiencing notable price movement due to several factors impacting its underlying asset. On January 29, 2025, Palantir Technologies faced a significant reduction in institutional holdings, as Foster Group Inc. decreased its stake by 10.7% in the fourth quarter. This reduction in holdings, alongside other large investors adjusting their positions, has contributed to a shift in market sentiment towards Palantir. Additionally, the broader tech sector is under pressure following a selloff spurred by DeepSeek, which has raised valuation concerns across big tech companies. This selloff has also affected energy companies crucial for AI growth, further complicating the market landscape.
The GraniteShares 2x Long PLTR Daily ETF (PTIR) is currently priced at $136.66, reflecting a 4.08% decrease from the previous close.