Palantir Stock Drops, Even As the Tech Darling Reports Solid Q3 Earnings

Investors are hammering Palantir stock on Tuesday, dumping shares even after the AI-powered data software firm delivered strong third-quarter earnings. Shares of the company fell as much as 7% to $165.25. Palantir beat Wall Street’s estimates on key metrics in the quarter, and reported that commercial revenue exceeded revenue from government contracts for the first time. Total revenue of $2.31 billion blew past analysts’ expectations. However, a sharp slowdown in commercial bookings compared to the second quarter rattled investors’ view of the stock. The firm reported year over year commercial bookings growth of 11%, compared to 153% booking growth in…