Arg Wigman / Reuters
- Citron Research opened a short position on shares of Palantir on Friday and said the stock has jumped 300% since its direct listing on September 30 was inadvisable.
- The short-sold company said it expects PalinTire to sink by about 33% to ૨ 50 by the end of the year.
- “Since traders are looking for a short exposure, PLTR is no longer a stock but a full-fledged casino,” Citro said in a statement. To tweet.
- Following this news Palantier will build up against strong initial gains and slide by as much as 10%.
- See the palanquin trade live here.
Siltron Research said Friday that the reality catches on with its massive rally, as the Palantier will sink about 33%.
Inside To tweet, The short-selling pay firm set a price target for Palan lentier shares at the end of the 20th year. Shares of the data-mining company have risen more than 300% since being listed directly on September 30th. Citroen’s target is still double that of Paltiner’s first price, but Citroen said Paltiner’s boom is ineffective.
“How much has run for everyone in the last month. But traders believe to be in short contact, $ PLTR is no longer a stock but a full casino,” Citro said.
read more: Goldm Sachs says buying these 26 stocks is determined to be the highest earnings growth of 2021, as the S&P 500 rises 20%.
The news led to a 10% loss in intraday lows as stocks pulled out of the morning rally. Short-term losses in the stock were then reduced to short-term losses for a low% trade.
The stock gained momentum in November after President-elect Joe Biden won the 2020 election. Biden’s victory sparked speculation that the new administration would cut military spending. The Department of Defense is already one of Palantier’s biggest customers, and the budget cut will bring more business to the company’s low-cost software software from traditional providers.
At 11 a.m. ET, Paltir traded at .6 30.69. The company has two “buy” ratings and three “hold” ratings from analysts.
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