IGV
PLTR
The market said ‘not today’
Palantir woke up with a fresh-looking government deal in its pocket and still got knocked around anyway. The company secured a $300 million Blanket Purchase Agreement with the U.S. Department of Agriculture, but Thursday’s tape was more about sour market vibes than Palantir-specific drama.
The USDA deal is the real story
The agreement is tied to the USDA’s National Farm Security Action Plan, which is basically Washington’s way of saying it wants better tech for American farmers and a sturdier food supply chain. That’s the kind of contract investors like to see because it reinforces Palantir’s pitch: we’re not just a flashy software name, we’re increasingly embedded in government infrastructure.
But the chart still has opinions
Even with the contract news, traders were taking a breather after Wednesday’s pop. Palantir was also moving in step with broader tech weakness, and that matters when your stock lives and dies by momentum.
- Nasdaq futures were down 0.36%
- S&P 500 futures slipped 0.39%
- PLTR often gets dragged around by tech ETFs like IGV
So yes, the company got a win. No, the market did not throw a parade.
Big picture
Palantir keeps stacking big-government relationships, which is great for the bull case. But in the short term, your stock can still get whacked by the same old market mood swings — because apparently even a $300 million deal can’t fully cancel out Wall Street’s collective caffeine crash.