Shares of Palantir Technologies Inc. PLTR,
fell 7.0% on heavy volume towards a sixth consecutive loss in morning trading on Thursday, putting them on track for their longest loss streak since the IPO as the expiration of the lockup period makes all shares outstanding available to buy. to trade. Trading volume rose to 165.4 million shares, almost three times the daily average of 66.2 million shares in the past 30 days, and enough to make the big-data software company’s shares the most actively traded on the major US stock exchanges. The stock is down 34.0% during its lost streak, and is now down 35.4% since closing at a record $ 39.00 on January 27. To fuel the declines are investor concerns about the freeze and a disappointing fourth quarter report earlier this week in which the company reported a surprising loss, although sales rose more than expected. The company had about 1.6 billion shares outstanding when it went public, but fewer than 500 million shares were allowed to be sold at the time. Despite the recent sell-off, the stock, which went public on September 30, is still up 40.7% in the past 30 days, while the Renaissance IPO ETF IPO,
Up 28.5%, the SPDR S&P Software and Services ETF XSW,
is up 31.2% and the S&P 500 SPX,
has gained 9.3%.