Palantir co-founder and CEO Alex Carp holds meetings at US Capital in Washington on 18 October 2023.
Jonathan Ernst | Roots
Share price of Palatir After the news fell as 12.5% on Wednesday Alex carp A new stock trading plan was adopted, and A Report That Punctic Ording to prepare to cut US defense budget 8%every year for the next five years.
Palantir is known to provide its contract work software And technology services for defense agencies.
Tuesday night, one in Palantir Regulator filing Revealed that Carp’s new plan allowed him to sell about 10 million shares of the company’s stock over the next six months.
Washington Post On Wednesday told that the defense secretary Peat hegseth Senior Pentagon leaders and other military brass have been ordered to develop a plan to reduce the defense budget in the next half decade. The budget for the current financial year is around $ 850 billion.
The post said that Hegseth ordered the proposed cuts to be prepared by Monday.
Palantir on Wednesday discontinued a fall of $ 112.06 per share, 10%. The shares were below 5% in the hourly trading.
The company, which tops the market capitalization of $ 255 billion, reported $ 828 million revenue in the fourth quarter of 2024 in early February, with an adjusted income of 14 cents per share.
Prior to Wednesday’s sudden decline, Palauntir was one of the top performing shares in the US for the last two years, including the price hike of about 50% a year.
Palantir trades about 600-to-1 price-to-Kamai ratio.
The Trump administration has been engaged in a comprehensive effort to reduce the number of federal government employees since the government’s expenses and the President since the President. Donald Trump On 20 January, a second non -acting period was inaugurated.
Trump appointed Tesla CEO Elon Musk To oversee that effort, called the “Department of Efficiency of the Government”.
Musk and Trump have come into fire for their ways to achieve Dogi’s goal, some steps have been successfully challenged in the federal court.
On Tuesday, Carp, who co-established the company with Peter Theal, defended musk during an appearance on CNBC “Squalk box.”
“The progressive leftist who is doing is saying, ‘Okay, alone, you are clearly the most worthy person in the world to do something like this. We want a dialogue with you what you do what you do Are you, how are you, how are you, “Karp said.
“I don’t believe that it has happened,” he said.
