US stock market abnormal movement | Valuation bubble + growth concerns scare off investors, Palantir (PLTR.US) plunges over 11%

The Chinese financial news app learned that on Tuesday, Palantir (PLTR.US) opened with a drop of over 11%, the largest drop since April 4, at $109.46. Despite the company's impressive first quarter financial report and an upward revision of annual performance guidance, the stock price plummeted after Tuesday's opening. This is due to concerns in the market about "high expectations already priced in" and the future slowing of growth. According to FactSet data, analysts estimate that the company's adjusted earnings per share growth rate will decrease from 62.5% in the previous quarter to 46.1% in the June quarter, and further slow down to 38% in the September quarter. In other words, despite the current strong performance, the momentum of growth may be declining. Palantir's valuation has also become expensive, with its forward 12-month price-to-earnings ratio currently around 189 times, far higher than the average of about 98 times since its listing in 2020.