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Palantir stock declines on Tuesday after overtaking the $20-$21.15 resistance band. The UK’s NHS officially announced that Palantir will lead a corporate team to overhaul the public health system’s operating software. The contract will pay 330 million British Pounds over seven years. Bears will seek to push PLTR back to support at $18. Palantir (PLTR) stock was rebuffed on Tuesday, receding 7.3%. PLTR stock looked like it had achieved escape velocity on Monday. Shares of the artificial intelligence company opened on Tuesday at $21.11 but closed at $19.79. Palantir followed the lead of the broad market as the S&P 500 and Dow Jones both dropped close to 0.2%, while the NASDAQ pulled back about 0.6%. Tuesday’s stock market consolidation came after the S&P 500 put an end to its three-month correction in the shortest period of time in 50 years, according to Deutsche Bank analysts. Nvidia (NVDA), the first semiconductor company to achieve a market cap of $1 trillion and probabaly the most popular stock of 2023, is scheduled to release third-quarter earnings after the close. Consensus has CEO Jensen Huang’s company reporting $3.39 in adjusted EPS on $16.11 billion in revenue. Palantir stock news: NHS contract is official On Tuesday, Palantir announced what had been rumored for weeks – the company founded by Peter Thiel has been selected to lead a group of firms that will overhaul the public health service of the United Kingdom using a new digitized database. Palantir has been chosen to head up the 330 million British Pound contract ($413 million), which is expected to last for seven years. Other consulting firms such as Accenture, PwC, NECS and Carnall Farrar will also contribute to the contract. The contract is focused on a new software platform called the Federated Data Platform or FDP. The main thrust of the overall is to reduce patient…

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Filed under: News - @ November 22, 2023 3:14 am