Palantir Technologies (NASDAQ: PLTR) got off to a red-hot start in 2025 and quickly registered gains of more than 60% in less than two months, hitting a 52-week high on Feb. 18, but it has been retreating rapidly since then.

Palantir Technologies is suffering a serious selloff. The shares recently traded at $81.60, down about 1.3% on the day, but off earlier lows. They have crashed more than a third since hitting an all-time closing record of $124.

Shares of Palantir Technologies (PLTR) are down 20% from the all-time high hit earlier this month as CEO Alex Karp plans to sell as many as 10 million shares of PLTR and the Defense Dept. plans to cut its budget by up to $50 billion.