Palantir Stock Slides 6.7% as Defense Tech Focus Intensifies
Palantir shares fell 6.7% to $167.87 on October 16, 2026, amid renewed focus on defense technology. CEO Alex Karp is deepening ties with former Ukrainian Defense Minister Mykhailo Fedorov, who recently accepted an advisory role with Italy’s defense ministry. This move follows a joint venture announcement in September and contrasts with Palantir’s recent record commercial revenue growth.