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Palantir stock's taking a hit today. Down 2.6% by noon. Broader market's feeling it too. S&P and Nasdaq? Also red.
What's going on? A few things.
August jobs report was a letdown. Only 22,000 new jobs. Way off the mark. Seems like the economy's not feeling so hot.
Interest rates are on everyone's mind. Weak jobs data initially perked things up. Hope for rate cuts, you know? But now? Fears of a slowdown are creeping in.
Oh, and some Palantir insiders are selling. Board members, CFO. Not a great look.
Earlier today, Palantir dipped even lower. 5.2% down at one point. Kinda wild.
But hey, they're still big in AI. Doing cool stuff in Web3 too.
Investors are watching closely. It's not entirely clear where Palantir's headed. Can they keep growing in this shaky economy? That's the million-dollar question.