Palantir Technologies Inc. (PLTR) Shares Down Heavily Since Jim Cramer Said He Saw “No Reason” To Back Away

Palantir Technologies Inc. (PLTR) Shares Down Heavily Since Jim Cramer Said He Saw “No Reason” To Back Away Ramish Cheema Tue, July 7, 2026 at 11:50 AM GMT+2 2 min read PLTR We recently published Jim Cramer's Biggest Losers: 10 Stocks That Just Didn't Work Out . Palantir Technologies Inc.

(NASDAQ:PLTR) is one of the stocks discussed by Jim Cramer. Palantir Technologies Inc. (NASDAQ:PLTR) was one of Cramer's most frequently discussed stocks in 2025.

Throughout the year, he praised the firm on multiple grounds. These included its ability to let the US government cut costs, and its products helping drive efficiencies for businesses. As the year started, the CNBC TV host asserted that Palantir Technologies Inc.

(NASDAQ:PLTR)'s stock just needed a good kick. However, the shares are down by 25. 7% since he discussed them.

2026 has seen the firm contend with famed short seller Michael Burry. Palantir Technologies Inc. (NASDAQ:PLTR)'s shares closed 7.

3% lower on April 9th as Burry remarked that Anthropic was "eating Palantir's lunch. " On May 5th, the stock closed 6. 9% lower following the Q1 earnings release on the 4th.

However, as part of what reports described as enthusiasm for the software sector, Palantir Technologies Inc. (NASDAQ:PLTR)'s shares gained 18% between May 27th and May 29th. Here is what Cramer said about the firm in January: "Next, how about Palantir, which finished 2025 up just 135%.

Good for ninth place in the S&P 500 and seventh place in the Nasdaq-100, it's still tough to justify, I know, Palantir's valuation, with the stock trading at around 175 times this year's earnings estimates, but as usual, the Palantir bulls don't care about that and it is one of the great fastest growing large cap stocks I've ever seen. It just needs, it needs a fresh jolt now. Maybe another stunning earnings quarter could do it or maybe Palantir doesn't even need that.

The stock did jump nearly 4% today on nothing more than a positive tape. You know I am a big believer in this company and the stock. I see no reason to back away from it now.

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