Palantir’s dramatic stock moves followed fresh fire from short-sellers, particularly Citron Research, led by Andrew Left. In a scathing report, Citron argued that Palantir’s stock was detached from its business fundamentals and sound analysis.

Palantir Technologies Inc (NASDAQ:PLTR) shares are trading lower Wednesday as the stock continues to pull back following a strong run in recent weeks. Here's what you need to know.

The Citron Research bearish call follows comments from OpenAI CEO Sam Altman, who described the AI market as a bubble.

The drop began after a broader market pullback but escalated fast; short seller Citron Research issued a scathing note that accused the company of being detached from fundamentals and analysis. Citron's Andrew Left compared Palantir's price-to-revenue multiple with OpenAI's recent $500 billion valuation;

Palantir stock slightly gapped down on Wednesday, easily skating beneath the 50-day Simple Moving Average (SMA). This tells us that the bottom is unlikely to be near. The July 1 pullback near $130 is a possible level to watch as it sits close to the 100-day SMA.

Investing.com -- Palantir Technologies (NYSE:NASDAQ: PLTR) stock fell 2% Monday morning after short seller Citron Research expressed caution about the company’s valuation for the second time.

A judge in April denied Left’s request to dismiss the SEC suit. Andrew Left, founder of Citron Research, center, exits federal court in Los Angeles, California, US, on Monday, July 7, 2025.

Key Takeaways Palantir shares slid Wednesday to log their sixth straight day of declines, after a short seller raised concerns about the stock's elevated valuation.Yesterday’s move lower coincided with the relative strength index falling into bearish territory,