Palantir shares dropped as low as 142.34 in intraday trades Wednesday, putting the stock nearly 24% below a closing high of 186.97, reached on Aug. 12. Since that date, the stock has embarked on what could well be a six-session losing streak by Wednesday's close.

Palantir Technologies Inc (NASDAQ:PLTR) shares are trading lower Wednesday as the stock continues to pull back following a strong run in recent weeks. Here's what you need to know.

This AI infrastructure play has delivered bigger gains than its larger peers since going public earlier this year.

Palantir stock (NASDAQ: PLTR) took a sharp hit on Wednesday, falling about 7% as high-valuation tech stocks pulled back across the market. The AI and data analytics company had hit record highs earlier in the month,

Last week, Citron's Andrew Left announced a short position against Palantir, suggesting that the stock was "beyond overvalued" at nearly $190 per share. Citron later argued that Palantir stock should be trading at $40. Palantir shares continued to plummet on Wednesday and were down more than 20% over the past five days.

Palantir stock continues to sink as investors pull back more broadly from AI stocks due to valuation concerns. Here’s why PLTR shares are not worth buying on the dip.

Shares in Palantir fell as much as 9% in late trading on Tuesday amid a broad AI pullback and a critical short-seller report.

Where will Palantir stock be in 5 years? Analyze trends, predictions, and market factors to see the potential future of PLTR stock.

In the S&P 500, Analog Devices ADI took the lead with a gain of more than 4% while Target TGT weighed on the benchmark index with a loss of nearly 7%. The retailer triggered a sell rule by falling below its 50-day moving average in heavy volume and remained around 60% below its all-time high of 268.98.