Palantir’s miserable week mints billions for struggling shorts

News Snapshot:

(Bloomberg/Carmen Reinicke) — Palantir Technologies Inc.’s losing streak has wiped out more than $73 billion in market value, handing a rare win to short sellers who are getting pounded after betting against this year’s Wall Street juggernaut. Since hitting a record on Aug. 12, shares of the data analysis and software firm shed 17% through Wednesday’s close in a six-day losing streak. In early trading Thursday in New York, shares swung between gains and losses. The drop has given short sellers more than $1.6 billion in profits, according to data from S3 Partners LLC. But that barely dents the $4.5...