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Pentagon budget cuts_ordered by Secretary Hegseth send Palantir's stock plunging over 12%.
Palantir Technologies' share price fell by over 12% after Defense Secretary Pete Hegseth ordered an 8% reduction in the defense budget over five years.
The Pentagon was told to prepare for these cuts, which could affect Palantir's government contracts.
The company's stock had been performing well, with a nearly 50% increase in 2021.
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Recortes del presupuesto del Pentágono_ordenados por el Secretario Hegseth envían las acciones de Palantir sumergiéndose en más del 12%.