As one of the most popular stocks with individual investors, is it product of hype, or is there something more?
Shares of Palantir Technologies (NYSE: PLTR) fell as much as 7% on Friday morning after a Wall Street analyst cut his price target for the data analytics stock. The analyst isn't questioning the quality of the business, but valuation is an open question in this environment. Palantir, as my Motley Fool colleague Keith Noonan noted yesterday, is a stock that has been moving in conjunction with the Nasdaq Composite, and so perhaps it should be no surprise the stock got off to a bad start on Friday morning as the broader market traded down.
I recently sold my shares of Snap, Palantir, and Bumble. Let's explore the reasons I pulled the trigger on the sales.