Those that believed the hype and hoopla and didn’t get out in time got thackamuffled.
Today, Palantir reported another huge loss, this time $101 million, on $446 million in revenues, bringing its total loss over the past four years, to $2.86 billion. Its revenue outlook for Q2 was below what Wall Street expected. Shares [PLTR] kathoomphed 22% so far today, and 84% from the peak in January 2021, to $7.40 a new all-time low. They’re down 26% from the first trade in September 2020:
They and hundreds of others all operated on the same principle. None of these companies were ever designed to make money. They were designed to bamboozle investors. And that worked for a while but started coming apart company by company in February 2021. And those stock jockeys that didn’t sell in time got thackamuffled.Palantir, like Hundreds of Startups Designed to Lose Money and Bamboozle Investors, Runs out of Bamboozle: -84% from High | Wolf Street