Palantir Stock Drops 3.5% After Jim Cramer’s Bullish Remark Triggers ’Cramer Curse’ Fears
Palantir Technologies Inc. shares fell sharply Thursday, dropping over 3.5% after CNBC's Jim Cramer tweeted a bullish warning to short sellers. The decline occurred despite earlier gains tied to a U.S. military operation in Venezuela that investors speculated involved Palantir's technology.
Truist Securities initiated coverage with a Buy rating and $223 price target, highlighting Palantir's 63% revenue growth and 50%+ operating margins. Government contracts surged 50% year-over-year while commercial revenue jumped 73%, demonstrating the company's dual-market strength.
The selloff contrasts with broader defense sector gains following President Trump's proposed military budget increase. Market participants attributed the drop to the so-called 'Cramer Curse,' where stocks frequently MOVE opposite to the Mad Money host's public predictions.
