Palantir Tests Support Zone as Karp Warns AI Lab Frustration Sparks 4% Drop
PLTR•Palantir is testing a critical support zone where a bullish reversal could establish a larger bottoming pattern, while a breakdown risks extending the current correction. Shares fell 4% on CEO Alex Karp’s warning that enterprise clients are frustrated with frontier AI labs’ token-centric approach, extending the weekly decline to 4%.
1. Technical Analysis Highlights
Palantir is currently testing a key support zone identified by technical analysts, with a bullish reversal in this area poised to confirm a larger bottoming pattern. A decisive breakdown below this level could accelerate the ongoing correction and pressure the stock lower.
2. CEO Remarks and Market Reaction
CEO Alex Karp cautioned that enterprise clients are growing frustrated with frontier AI labs’ emphasis on token consumption over real-world business use, suggesting true value lies in enterprise deployment over the next seven years. The warning helped trigger a 4% drop in shares, extending the weekly decline to 4%, as investors reassess AI implementation risks.
