Palantir Technologies Inc (NASDAQ:PLTR) shares are trading lower Wednesday as the stock continues to pull back following a strong run in recent weeks. Here's what you need to know.

Palantir ( PLTR -5.81%) stock is getting hit with another substantial round of sell-offs Wednesday on the heels of a big valuation pullback in yesterday's trading. The artificial intelligence ( AI) leader's share price was down 7% as of 11:15 a.m. ET and had been down as much as 9.8% earlier in trading.

Palantir stock continues to sink as investors pull back more broadly from AI stocks due to valuation concerns. Here’s why PLTR shares are not worth buying on the dip.

Citron Research, the firm led by short-seller Andrew Left, unpacked its bear case for Palantir, using OpenAI to show why it may be highly overvalued.

Even the most successful companies can see their stocks crash when valuations get this disconnected from reality.

Palantir stock sinks below a key technical level, extending a steep two-day drop. History suggests buying the dip could pay off—big.

Palantir stock (NASDAQ: PLTR) took a sharp hit on Wednesday, falling about 7% as high-valuation tech stocks pulled back across the market. The AI and data analytics company had hit record highs earlier in the month,

In the S&P 500, Analog Devices ADI took the lead with a gain of more than 4% while Target TGT weighed on the benchmark index with a loss of nearly 7%. The retailer triggered a sell rule by falling below its 50-day moving average in heavy volume and remained around 60% below its all-time high of 268.98.