Short-seller Citron targets PLTR again, using a Databricks comparison to argue the stock is overvalued after its report sent shares falling.

The 10-year Treasury yield held steady at 4.3%. Oil prices bounced, as West Texas Intermediate futures traded near $62.60 a barrel. Among exchange traded funds, the Invesco QQQ TrustQQQ moved down 0.2%. Also, the SPDR S&P 500 ETFSPY lost 0.1% ahead of Wednesday's market open.

Palantir's dual-engine model delivers exceptional growth, margins, and defensibility. Click here to see why PLTR stock is a Buy.

That unbridled success has translated into meteoric growth and a blistering run for the stock. But this could be just the beginning. CEO Alex Karp just announced plans to grow the company's revenue tenfold while reducing Palantir's head count. Let's review what he said and see what this could mean for the stock price.

Keithen Drury has positions in Alphabet, Meta Platforms, and Tesla. The Motley Fool has positions in and recommends Alphabet, Costco Wholesale, Meta Platforms, Palantir Technologies, and Tesla. The Motley Fool has a disclosure policy.

Palantir Technologies (NASDAQ:PLTR) earlier this month became one of the hottest stocks on Wall Street after the data analytics software developer reported $1B in quarterly sales for the first time ever,

Palantir's growth continues to be led by U.S. commercial customers adopting its Artificial Intelligence Platform (AIP). The company once again credited AIP's ontology, saying it is "pure understanding," and that without it, large language models (LLMs) cannot actually work in the real world

Shares of data analytics powerhouse Palantir Technologies (NASDAQ: PLTR) soared by 141% this year. For two years running, Palantir is the top-performing stock in the S&P 500, and its momentum doesn't appear to be diminishing in the slightest.