Palantir shares tumble into record 6-day losing streak as lockout expires


Palantir Technologies Inc. PLTR shares,
-6.15%
sank 7.0% with high volume to a sixth consecutive loss in morning trading Thursday, setting them up for their longest losing streak since going public, as the expiration of the blackout period puts all outstanding shares available for trading. Trading volume skyrocketed to 165.4 million shares, nearly triple the daily average of 66.2 million shares in the past 30 days, and enough to make the big data software company’s shares high. the most actively traded on major US exchanges The stock has fallen 34.0% during its losing streak, and is now down 35.4% since closing at a record $ 39.00 on January 27th. Helping to drive the declines are investor concerns about the expiration of the lockdown and a disappointing fourth-quarter report earlier this year. week, in which the company reported a surprise loss, although revenue increased more than expected. The company had roughly 1.6 billion shares outstanding when it went public, but at the time it was allowed to sell fewer than 500 million shares. Despite the recent sell-off, the stock, which went public on September 30, has still rallied 40.7% in the past 30 days, while the Renaissance IPO ETF’s IPO,
-1.64%
is up 28.5%, the SPDR S&P Software and Services XSW ETF,
-1.44%
is up 31.2% and the S&P 500 SPX,
-0.78%
it has gained 9.3%.

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