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Palantir Drops 10% on Report of Pentagon Slashing Budget
- throwaway5752 2y agoThis shows how naive and unprepared the market and general public in the US is for blatant political corruption. This is a Thiel company. The administration will double down on Palantir because their cofounder and chair helped fund the current administration's election. Just like how they will benefit Musk's companies.
- fullshark 2y agoPalantir is up 170% still since the election
- Andaith 2y agoSo it's a buy opportunity, eh?
- throwaway5752 2y agoI have my standards and will pass. Beyond that, PLTR has already run up since $20 a share until last May, and their valuation not compatible with high future returns. But remember this post.
- mandevil 2y agoErrr, I think the market has priced in an awful lot of corruption. PLTR closed at $41.41 on November 4th (day before election), and after its 10% drop today, it closed at $112.06. The market might be saying that even with the corruption, if the total pie shrinks by enough, it hurts the company. I mean, in the sense that the "market" says anything at all.
- dilyevsky 2y agoWhat i dont understand is why it is seemingly not pricing in the blowback. Clearly next admin will scrutinize any trump-era deals very heavily for their own political points so even if the gravy train is going full stream now it won’t last forever
- w-ll 2y agoYou think we are gonna have fair elections in 4 years? - You won't have to do it anymore. Four more years, you know what, it will be fixed, it will be fine, you won't have to vote anymore..."
- whatshisface 2y agoThe president can't just say, "no more elections."
- w-ll 2y agoBack during my high school civics class I would believe that. But headlines such as "Trump signs order declaring only president and AG can interpret US law for executive branch" Make me wonder. ¯\_(ツ)_/¯
- whatshisface 2y ago"The executive has enforced the decision, now let him make it."
- w-ll 2y agoSo you agree, they can say "no more elections."? Also, as a point, I wasnt saying there would NOT be elections, but if they were fair and not banana republic elections.
- XorNot 2y agoBecause that's 4 years from now, the market barely prices in things which will happen 6 months from now. They're certainly not pricing in the fact that corruption is actually a really poor business model, especially with the current rollback of the regulatory protections: those companies are going to get paid a lot of money to be husks of their former selves. Why deliver anything when you can get paid for not delivering it as well? Why build and retain qualified engineering staff when you don't need them?
- rayiner 2y agoWould still be small potatos compared to Rockwell/Lockheed/etc.
- mrguyorama 2y agoThat's just factually wrong. Lockheed's market cap is only $100 billion you know. Thanks to the expected corruption, Palintir's market cap is currently $200 billion.
- blackeyeblitzar 2y ago[flagged]
- neilv 2y agoWasn't that already priced in?
- readthenotes1 2y agoIt is kind of funny to me that the lede is about Palontir instead of the absolutely stunning call by a Republican for the DoD to reduce budget by 8%.
- totablebanjo 2y agoIt’s 8% cut per year over 5 years which is quite a bit.
- iamtheworstdev 2y agoRepublicans shredded Obama when he wanted 5% cut per year over 4 years.
- rayiner 2y agoYes, and then Trump destroyed the Bush dynasty in one debate and took over the party: https://youtu.be/H4ThZcq1oJQ?si=I-mDaVGGMjsMngo9 https://youtu.be/H4ThZcq1oJQ?si=I-mDaVGGMjsMngo9. To the point where Jeb’s son couldn’t even win the nomination for Texas AG, and Cheney’s daughter was thrown out of Congress.
- rubyn00bie 2y agoThey also shredded him for wearing a tan suit. We’re living in absolutely insane times. I have no faith the Republicans will do anything meaningful to reduce the spending, as they’ve historically done the opposite. But who knows? Maybe they will this time if only to cement the death of democracy in America.
- mock-possum 2y agoThe GOP’s attitude towards these things is typically “it’s okay when our guy does it”
- rudedogg 2y agohttps://www.reuters.com/world/us/us-looks-8-defense-budget-cut-each-next-5-years-washington-post-reports-2025-02-19/ https://www.reuters.com/world/us/us-looks-8-defense-budget-c... > list of potential cuts totaling about $50 billion from the upcoming budget for fiscal year 2026 to be redirected into President Donald Trump's priorities for national defense. So no cuts
- mekpro 2y agoStill a big bubble considered that the price go up 244% compared to 6 months ago.
- red-iron-pine 2y agoThiel has a man in the White House (Vance) so everyone is hoping he can leverage that. Given the bad blood between Musk and Thiel, I wouldn't be surprised if DOGE goes straight at PLTR contracts
- daft_pink 2y agoAgree. It’s overvalued just sayin.
- deleted 2y ago[deleted]
- oa335 2y agoHow much is this movement also a reaction to the news about the CEO changing his plan to sell his shares in PLTR? https://markets.businessinsider.com/news/stocks/palantir-pltr-ceo-alex-karp-to-sell-1-2-billion-of-company-stock-1034381909 https://markets.businessinsider.com/news/stocks/palantir-plt...
- nycdatasci 2y agoMaybe also relevant, Karp is a seller at the current valuation: https://markets.businessinsider.com/news/stocks/palantir-pltr-ceo-alex-karp-to-sell-1-2-billion-of-company-stock-1034381909 https://markets.businessinsider.com/news/stocks/palantir-plt...
- FreakLegion 2y ago> However, in filing the new 10b5-1 trading plan, Karp canceled a previous plan that would have seen him sell much more stock — 48.9 million shares worth $6.01 billion. He reduced the amount he's selling by 80%.
- ggm 2y agoThis isn't the thing the pentagon or any strategic intelligence agency is going to cut longterm. Much though it grieves me, I'd say any contract cuts will be short lived because they want the Intel.
- panarky 2y agoCutting government isn't to save money, it's to evict ideologically non-aligned people who might impede the Red Hat agenda. Palantir is a force-multiplier that replaces a bureaucracy of people with raw data and AI agents. That's why the stock is up 200% since the election. Palantir is not a casualty of budget cuts, it's possibly the biggest single beneficiary.
- red-iron-pine 2y agothis is red hat as in MAGA, correct?
- theGnuMe 2y agoThey will cut the DoD budget now but just bring it back in 6months due to some incident.
- createaccount99 2y agoI wish this fake cold war ended already