A peak-to-trough decline of 38% for the Nasdaq Composite is an ideal time for opportunistic investors to pounce.
Palantir Technologies Inc. (PLTR) closed at $7.24 in the latest trading session, marking a +0.28% move from the prior day.
At the World Economic Forum in Davos, Palantir CEO Alex Karp said that it may hire a couple hundred workers this year, even as many tech companies continue to cut staff. In Palantir's most recent quarterly results, it reported revenue of $478 million for the period ending Sept. 30, 2022, which equaled a year-over-year increase of 22%. Many big tech companies that are laying off staff deal with consumer-related products and services.