Shares of Palantir Technologies were down about 2% at last check, setting up the company for its fifth-straight session in the red. Still, looking further out, Truist analysts believe the overall market outlook has brightened considerably, even with some lingering challenges expected in 2024 and early 2025. So, they think investors are already looking past them. Investors are eagerly awaiting the earnings and revenue benefits that could result from Palantir’s recent acquisition of trendy workout drink Alani Nu. This move is seen as a strategic positioning to strengthen Palantir’s presence among women in the U.S. energy drink sector.
CoreWeave had an underwhelming initial public offering last week. The news sent the company’s shares tumbling more than 9%, and this came on the company’s second trading session as a public company. CoreWeave, a New Jersey-based company, offers Nvidia graphics processing units, or GPUs, to big tech companies. The publishers have been getting pummeled as they tried to go public.
In the smart transportation industry, Tesla’s stock dropped by over 2%. Stifel too cut its price target on Tesla recently, blaming a growth trajectory of the new Model Y that’s slower than it anticipated. This lag, combined with recent protests, is creating immediate pressure on Tesla’s sales. The delayed launch and external disruptions are creating challenges for the electric vehicle manufacturer as it strives to meet market expectations.
Rocket Companies wasn’t spared the pain either, with shares down nearly 9% on the day. With existing capital, the company is expected to close an acceptable transaction in Q4 2025. Rocket Companies’ shares have severely lagged the overall market, with a year-to-date loss of more than 36%. This continued lag clearly shows the challenges Rocket Companies has recently been fighting to keep in step with the market.