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Why Palantir Technologies, Shopify And Block Shares Are Falling Today

Published 22/02/2022, 19:48
© Reuters.  Why Palantir Technologies, Shopify And Block Shares Are Falling Today
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Shares of technology and software companies, including Palantir Technologies Inc (NYSE: NYSE:PLTR), Shopify Inc (NYSE: SHOP) and Block Inc (NYSE: SQ), are all trading lower amid overall market weakness as Russia-Ukraine escalation weighs on market sentiment.

US indices at-large are trading lower after Russia ordered troops into separatist regions of Ukraine after recognizing the Donetsk and Luhansk regions as independent.

Palantir Technologies shares are trading lower by 25.6% since last Thursday's trading session after the company reported worse-than-expected fourth-quarter EPS results.

Shopify shares are trading lower by 29.3% since last Wednesday's trading session after the company reported worse-than-expected fourth-quarter EPS and sales results.

Block shares have otherwise been trading lower by 17.2% over the past five trading sessions in sympathy with the broader market.

See Also: Why Jim Cramer Likes Upstart (NASDAQ:UPST) And This Cybersecurity Stock Being Featured On 'Mad Money' Tonight

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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