The US stock market has been stuck in a period of volatility amid growing geopolitical concerns. Indeed, Monday has seen a host of stocks stagnate despite some reasons to be optimistic. However, Palantir (PLTR) saw the worst of it, as it continued to fall below the $100 mark, continuing what has been a 20% drop on its weekly chart.

Now, all eyes are on whether or not the stock can eventually reverse its recent fall. The shocking part about its recent performance is that the company had recently reached a $125 all-time high. Now, it has fallen below critical support at the $100 level, trading at $91 and dropping more than 9% today.

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Palantir Stock Struggles, Falls 9% as It Drops Below $100

Since the inauguration of US President Donald Trump, there has been a growing sense of uncertainty in the global economy. This has extended into the stock market. Specifically, with tariff warnings given at record pace, there is no telling when or how these conflicts will manifest and affect Wall Street.

Monday, a host of stocks were left staying put, with some minor adjustments taking place in one regard or another. However, that wasn’t the case for Palantir (PLTR), as the stock fell below the $100 level. Now, all eyes are on whether or not the company can reverse its most recent 20% drop.

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A big reason for the Palantir drop is connected to Trump. Specifically, the present administration has signaled its interest in cutting the country’s defense spending. That affects the company because much of its revenue comes from defense contracts with the US. Therefore, its AI solutions for the Department of Defense could be in jeopardy.

So, is there a chance for the stock to bounce back? That is almost impossible to dictate, but experts seem to not be enthused by the prospect. According to 26 analysts surveyed by CNN. 50% have a hold rating on the stock. alternatively, 31% have issued a buy rating.

Moreover, the stock has a $97 median price target, which would keep it at a sub-$ $100 level. However, there are notable upside and downside risks for the stock. On the one hand, it sports a high-end price projection of $160, up 74% from its current position and a new all-time high. Alternatively, there is a $40 low-end projection, representing a 56% potential drop for the stock over the next 12 months.