Palantir Technologies (NASDAQ:PLTR) fell ~15% this week after a news report about a memo from Defense Secretary Pete Hegseth indicated a potential 8% cut to the U.S. defense budget over each of the next five years.

Two billionaire Palantir Technologies Inc. founders disclosed plans this week to unload more than $1.4 billion of stock, continuing a year-long selling streak that saw executives and board members cash out more than $4 billion in 2024.

Key Takeaways Palantir shares tumbled Thursday on expectations of defense spending cuts; this week's losses put the stock in correction territory.Some analysts said the selloff could present a buying opportunity,