Palantir shares continued to decline on Thursday, extending a sharp sell-off. The stock fell nearly 9%, following Wednesday’s 10% drop, which marked its worst trading day since May. The sell-off came after shares briefly reached an all-time high earlier in the week,

Friday looked set to be a crucial day for Palantir Technologies stock after its two-day 15% slump as investors assessed whether the weakness was a blip or something more sustained. The shares rose initially before falling back to trade 2% lower at $104.

Palantir (PLTR) stock tanked as much as 14% on Thursday, Feb. 20 following news that President Donald Trump’s administration wants the Pentagon to lower its budget in each of the next five years. While the likes of Wedbush analyst Dan Ives believe the announcement is a positive for PLTR since it could redirect defense budget to the AI-enabled