Palantir Technologies Inc. slid for a sixth straight session on Wednesday, falling as much as 23% from the all-time high of $190 it reached on Aug. 12. The stock touched an intraday low of about $142 before clawing back to close near $156, but the six-day skid—its longest since April 2024—has wiped roughly $73 billion from the company’s market value and pushed the shares into correction territory. The rout accelerated after short-seller Citron Research doubled down on its bearish call. In a report released Monday titled “OpenAI at $500B Puts Palantir at $40—and That’s Generous,” Citron argued that applying the same revenue multiple implied by OpenAI’s recent $500 billion valuation would justify a $40 price for Palantir. Citron said the stock’s current valuation is disconnected from fundamentals and disclosed that it had increased its short position. Palantir earlier this month posted its first $1 billion revenue quarter and briefly entered the ranks of the 20 most valuable U.S. companies, bolstered by enthusiasm for artificial-intelligence software. Even after the pullback, the shares trade at roughly 193 times forward earnings, well above megacap peers. The downturn comes amid a broader cooling in AI-linked equities, with the Nasdaq Composite and bellwethers such as Nvidia also retreating this week, while options markets are pricing heightened volatility for Palantir.