Palantir Shares Fall 7.22%, Close 11% Below October Record

Palantir Technologies Inc. (PLTR) shares fell 7.22% Friday, Oct. 16, closing about 11% below their record as technology stocks declined broadly ahead of the company’s Nov. 2 third-quarter earnings event.

The shares lost $14.47 from the previous session to close at $186.03 at 4 p.m. ET (20:00 UTC). That was below $188.15, the level marking a 10% decline from Palantir’s Oct. 9 record close of $209.05.

The Nasdaq Composite fell 2.1% Friday and 4.5% for the week, its steepest weekly decline since June. The S&P 500 lost 1.1% on Friday.

Palantir’s stock volatility and second-quarter growth were covered earlier this week. The company reported second-quarter revenue of $1.935 billion, up 93% from a year earlier. U.S. commercial revenue rose 149% to $764 million.

Palantir forecast third-quarter revenue of $2.160 billion to $2.164 billion and full-year 2026 revenue of $8.150 billion to $8.158 billion. Its third-quarter earnings event is scheduled for Nov. 2.