T he Dow Jones Industrial Average slipped into negative territory while a steeper fall for the Nasdaq put it below a key level in afternoon trade Wednesday. Several retail stocks moved on earnings, and artificial intelligence software maker Palantir Technologies PLTR was driving toward its sixth straight loss on the stock market today.

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Major U.S. equities indexes were mixed Tuesday as tech sector losses weighed on their performance. The S&P 500 ended the session 0.6% lower, while the tech-heavy Nasdaq dropped 1.5%. The Dow held onto a fractional gain.

Shares in Palantir TechnologiesPLTR tumbled in early action on Wednesday, declining for the sixth straight session. With Wednesday's retreat, Palantir stock is down roughly 22% from its all-time high.

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.

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,

Palantir ( PLTR -5.81%) stock is getting hit with another substantial round of sell-offs Wednesday on the heels of a big valuation pullback in yesterday's trading. The artificial intelligence ( AI) leader's share price was down 7% as of 11:15 a.m. ET and had been down as much as 9.8% earlier in trading.

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.

President Trump's tariffs continue to affect global markets and the economy. Follow along for live updates on stocks, bonds and other markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite.

Let's say that Palantir's growth rate accelerates to 50% and it maintains that rate over the three-year analysis period. If Palantir can achieve a 35% profit margin (a very high l