Palantir Technologies has slipped into a technical breakdown zone, with its share price falling nearly 40% from last November’s all-time high and breaching both its 50-day and 200-day moving averages. The latest leg lower—a 4.27% drop on Tuesday to €109.30—accelerated the stock’s weekly decline to 7.07%, leaving it down 23.62% since the start of 2026. The company, long hailed as a pure-play winner in the generative AI infrastructure boom, now finds itself squeezed between two unusually powerful detractors: one from the TV studio and one from the hedge fund world.
The first jolt came from CNBC’s Jim Cramer, who for two years had been one of Palantir’s most steadfast defenders during the AI rally. That changed last Wednesday after Palantir released—and then quietly deleted—an NFT video that Cramer described on air as “one of the most frightening things I’ve ever seen.” He likened the imagery to the Punisher and went further, telling viewers the video essentially said “We are Satan. Watch out.” Cramer demanded that Palantir’s management publicly distance itself from the video the same day; the company complied by pulling the clip from the internet. The rift, amplified by a Financial Times article on Palantir’s political ties to Republicans, has hung over the stock ever since.
On the other flank, investor Michael Burry has re-energized his bearish campaign. Burry argues that rival AI lab Anthropic is eating Palantir’s lunch, directly encroaching on its core government and commercial contracts, and has built a large short position accordingly. He has warned that Palantir’s valuation—a price-to-earnings ratio of 144 and a price-to-sales multiple above 60—could collapse by as much as 66%. Wedbush analyst Dan Ives dismissed the Anthropic threat as a “fictional narrative,” but the damage to sentiment was done.
The stock’s technicals underscore the fragility. Having traded as high as €179.98 in November 2025, Palantir now sits 36.6% below the 200-day moving average of €133.15 and has fallen through the 50-day line at €114.42. The 52-week low of €93.30, reached in late June, offers a cushion of only about 17%. Meanwhile the annualized 30-day volatility has climbed above 50%, a level that normally belongs to distressed small-caps, not a company that is still generating rising revenue and expanding margins.
Should investors sell immediately? Or is it worth buying Palantir?
Even before the Cramer controversy, the stock had shed 3.6% in the five trading days preceding it. At its current multiple, any stumble in execution or narrative can trigger an outsized reaction. The upcoming quarterly report on 3 August 2026—scheduled after the U.S. market close—will be the first full financial update since the video episode erupted and will test whether enterprise demand has softened. Palantir continues to target second-quarter revenue of $1.797–$1.801 billion and adjusted operating income of $1.063–$1.067 billion. For the full year, it sees revenue reaching $7.650–$7.662 billion, with U.S. commercial sales growing at least 120% to surpass $3.224 billion, and free cash flow of $4.2–$4.4 billion.
The analyst community remains hopelessly split. The one-month average rating is still a “Buy,” but target prices range from €70 to €255—a spread so wide it signals deep uncertainty about how to value a company of this scale growing at this speed. The consensus target of €160.43 implies roughly 40.5% upside from Tuesday’s close, a gap that optimists read as underappreciation and pessimists see as risk that has yet to be priced in.
On a pure momentum basis, the relative strength index sits at 52.8, squarely neutral—neither oversold nor overbought. That rare moment of calm in a stock that has ping-ponged between extremes for months suggests the next decisive move, whichever direction it takes, will be violent. Until the earnings report offers concrete answers, the Palantir story remains exactly what it was before Cramer and Burry stepped into the ring: a battlefield where neither the bulls nor the bears can claim victory, and where every headline is liable to rewrite the rules of engagement.
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