fxstreet.com 23 Feb, 2021 12:45 am

Bearish streak continues as lockup period expires, causing selloff

Bearish streak continues as lockup period expires, causing selloff
NYSE:PLTR saw a perfect storm of events last week that left the stock with little choice but to fall from its January highs. So far in 2021, Palantir

Palantir’s Chairman and other high ranking officials sold off some shares as the IPO lockup period expired last week.One of the bearish catalysts from last week was the expiration of the IPO lockup period which allows insiders who have held shares to commence selling.FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.It also does not guarantee that this information is of a timely nature.

But insiders selling shares does not necessarily mean that they do not believe in the future of the company, but are merely using this opportunity to raise some personal capital for themselves.Chairman of the Board Peter Thiel announced that he sold 20 million of his Palantir shares last week, which some investors take as a sign that they too should also be selling.

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