Palantir Technologies (NYSE: PLTR) is trading lower on Monday amid general market weakness as stocks across all sectors tumble on COVID-19 concerns and China’s weakness. Investors are also looking forward to the two-day policy meeting of the Federal Open Market Committee starting Tuesday.
Palantir traded higher with abnormally high volume over the past week amid growing interest from retail investors in the shares. The stock is up more than 5% over a 5 day period and more than 10% over a 1 month period.
Average session volume over a 100-day period is approximately 45 million. Monday’s trading volume had already passed 45 million at press time.
Palanitir was among the top three most mentioned stocks on the r / wallstreetbets subreddit in the last 24 hours.
Palantir has continuously said that it expects revenue growth of 30% or more through 2025. The company makes products for human-driven real-world data analytics.
PLTR price action: Palantir has traded as high as $ 45 and as low as $ 8.90 over a 52-week period.
The stock was down 5.15% to $ 27.23 at press time.
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