Why Palantir Stock Was Pulling Back Today
Among those selling the stock was CEO Alex Karp, who filed to sell 4.5 million shares of the stock on Friday, which has a market value of $266 million. That sale was predetermined by a 10b5-1 plan, which sells stock at set intervals to avoid suspicions of insider trading. Palantir stock was down 5.38% as of 11:45 a.m. ET.