Palantir Technologies Inc. shares extended their recent retreat on Monday, slipping as much as 5% at the open to about $150 before rebounding above $155 by midday. The moves leave the stock roughly 17% below its 12-August record high, erasing part of a rally that had propelled the data-analytics group to the top of the S&P 500 performer list this year. The pressure comes as a regulatory filing showed Chief Executive Officer Alex Karp unloaded more than $60 million worth of Palantir shares in recent sessions. His sales coincided with heightened profit-taking and a pick-up in bearish bets after Citron Research founder Andrew Left called the company’s valuation "absurd." Short interest has risen to about 54.7 million shares, or 2% of the public float, according to MarketBeat. Analysts say the pullback also reflects a broader rotation out of richly valued technology names ahead of the Federal Reserve’s Jackson Hole meeting. Still, Palantir remains up more than 130% for 2025, buoyed by record quarterly revenue of over $1 billion and a pipeline of US government contracts. Options data on Monday showed hefty put support clustered at $150 and call resistance near $165, suggesting traders expect the shares to stay range-bound until a fresh catalyst emerges. Market participants will watch whether the stock can hold its 50-day moving average and regain momentum in the weeks ahead.