To The Moon

Loved by Reddit, ARK Invest, and retail investors, $Palantir Technologies Inc.(PLTR)$ posted seven straight quarters of accelerating growth. Even after a 12% dip following its Q1 earnings, the stock quickly rebounded and surged to a new all-time high. But just when Palantir seemed unstoppable, two things happened:

• $ARK Innovation ETF(ARKK)$ started trimming its PLTR holdings; A new Reddit darling emerged— $CoreWeave, Inc.(CRWV)$

Tied closely to NVIDIA’s ecosystem, CoreWeave has been hyped as the new “Meme King of the AI era,” rapidly gaining momentum and, some say, even overshadowing Palantir.

Has Palantir really been abandoned?

Looking at the numbers, Palantir is still on fire:

• Q1 revenue up +39% YoY, with strong performance from commercial segments

• FY25 revenue guidance raised to 36% growth, Q2 guidance also above expectations

• Morgan Stanley called it: “Firing on nearly all cylinders.”

Yet, that same Morgan Stanley quickly cooled the enthusiasm:

"Strong performance ≠ Buy signal" Why? Valuation.

Looking ahead to 2027, Morgan Stanley outlined three possible scenarios:

• 🟩 Bull Case: $3.3B in FCF → Target price around $170

• 🟨 Base Case: $3.0B in FCF → Target price around $112

• 🟥 Bear Case: $2.1B in FCF → Target price around $37

ARK + Executive Sell-Offs: Does the Market Even Care?

ARK Invest has started offloading small amounts of PLTR, and legendary investor Stanley Druckenmiller exited entirely, reallocating to TSMC. Meanwhile, Palantir insiders were also cashing in:

In May, CEO Alex Karp sold over $50 million worth of shares in May. CTO Shyam Sankar sold ~$21 million; Co-founder Stephen Cohen sold ~$43.5 million. Total insider sales exceeded $100 million. But strangely, the market seemed unfazed.

In fact, history shows a familiar pattern: Every time insiders sell or institutions rebalance, PLTR dips briefly… then rallies harder. After a small 4% dip on executive sell-off news in late May, Palantir jumped 7% in one day on headlines about its data work with the U.S. government—then climbed to a new all-time high.

• Does anyone really care if insiders are cashing out? Especially when retail traders are still riding the narrative?

• As CRWV and other AI names steal the spotlight, is Palantir losing its storytelling edge?

• With high valuation + high growth, are you still willing to chase PLTR?

• If it dips again, would you buy the dip?

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