By George Glover
Palantir Technologies stock was sliding Thursday, as President Donald Trump's latest tariff plans put investors into a risk-off mood.
Shares in the data analytics software company slipped 0.7% to $91.60 ahead of the opening bell. Futures tracking the benchmark S&P 500 were down 0.1%.
Trump's 25% levies on auto imports into the U.S. probably won't mean much for Palantir's profit or revenue, but are fueling worries that the White House's trade policies could trigger a flare-up in inflation or drag down economic growth.
Declining market sentiment stands to hit this stock more than most. Palantir has soared 300% over the past year and currently trades at 94 times forward earnings -- an eye-watering 440% premium to its peers, according to FactSet data. If investors are feeling a little less sure about the U.S. economy, then they're likely to dump their shares in a bid to lock in profits.
Write to George Glover at george.glover@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
March 27, 2025 07:58 ET (11:58 GMT)
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