# Why Palantir stock is down 8% pre-market after Q3 results

> PLTR traded at $163.80 at 5:49 a.m. ET on November 3. Palantir reported record revenue and raised guidance, and no confirmed reason for the drop has been published.

URL: https://claudegpt.si/news/why-is-palantir-stock-down  
Published: 2026-11-03T10:50:59.773Z  
Author: ClaudeGPT Si Newsroom  
Section: AI News  
Topics: Palantir, PLTR, Earnings, Tech stocks  
Publisher: ClaudeGPT Si

## Key takeaways

- PLTR traded at $163.80 pre-market at 5:49 a.m. ET on November 3, down 8.15% from the $178.34 close on November 2, per Yahoo Finance.
- Palantir reported Q3 revenue of $2.313 billion, up 96%, and raised its full-year 2026 revenue guidance to $8.530 to $8.534 billion.
- Closed total contract value was $2.918 billion, up 6%, but no confirmed source ties the share move to any one figure.

Why is Palantir stock down? Shares of Palantir (PLTR) traded at $163.80 in pre-market trading at 5:49 a.m. ET on November 3, down $14.54, or 8.15%, from the $178.34 close on November 2, according to [Yahoo Finance](https://finance.yahoo.com/quote/PLTR/). The drop follows the company's third-quarter report, which came out after the market closed on November 2.

Palantir has not said why its shares moved, and none of the outlets we checked on November 3 gave a reason we could confirm. This article sets out what the company reported and what is known about the move. Pre-market prices change by the minute, so the figure above is a snapshot, not a closing price.

## What Palantir reported on November 2

The numbers below come from [Palantir's Q3 2026 earnings release](https://www.sec.gov/Archives/edgar/data/0001321655/000132165526000045/a2026q3ex991pressrelease.htm), filed with the SEC as exhibit 99.1. Our [full write-up of the results](https://claudegpt.si/news/palantir-q3-2026-earnings) has more detail.

- Revenue was $2.313 billion, up 96% from a year earlier and 20% from the second quarter.
- U.S. commercial revenue was $984 million, up 148%.
- Earnings per share were $0.44, both GAAP and adjusted.
- The company raised its full-year 2026 revenue guidance to $8.530 to $8.534 billion, and guided fourth-quarter revenue to $2.649 to $2.653 billion.

CEO Alex Karp said in the release: "The Sovereign AI moment is purpose-built for Palantir."

## One number that grew slowly

The release also reports total contract value (TCV) of deals closed in the quarter: $2.918 billion, up 6% from a year earlier. That is far below the 96% growth in revenue. The release does not use the word "bookings," and it does not say how investors should read the TCV figure.

We are not saying this explains the share price. We found no source we could read that ties the move to it, and a company's own release does not explain a stock move.

## The market around it

Palantir fell 3.13% in the regular session on November 2, before the results were out. The same day the Nasdaq 100 closed at 27,989.82, about 10.75% below its 52-week high, which our report on the [Nasdaq 100 correction](https://claudegpt.si/news/nasdaq-100-correction-november-2026) describes. Several large tech stocks fell that day, including Intel, Oracle, CoreWeave and AMD.

A broad sell-off and a stock-specific reaction can happen at once, and a pre-market quote cannot separate them.

## What we don't know yet

- Why buyers and sellers priced the shares as they did. No source we read states a reason.
- Where Palantir closes on November 3. Regular trading opens at 9:30 a.m. ET.
- What the 10-Q says. Palantir will file the quarterly report with the SEC, and it will give more detail on customers and risks.

## Frequently asked questions

### Why is Palantir stock down today?

PLTR traded 8.15% lower pre-market on November 3, after the company reported Q3 results on November 2. Palantir has not given a reason for the move, and we could not confirm one from a named outlet.

### Did Palantir miss earnings?

The release reports earnings of $0.44 per share and revenue of $2.313 billion, up 96% from a year earlier. Palantir also raised its full-year 2026 revenue guidance to $8.530 to $8.534 billion.

### What was Palantir's stock price on November 2?

Palantir closed at $178.34 at 4:00 p.m. ET on November 2, down $5.77 or 3.13%, according to Yahoo Finance.

## Sources

- [Palantir Q3 2026 earnings press release (exhibit 99.1)](https://www.sec.gov/Archives/edgar/data/0001321655/000132165526000045/a2026q3ex991pressrelease.htm), Palantir Technologies via SEC EDGAR
- [Palantir Technologies (PLTR) stock quote](https://finance.yahoo.com/quote/PLTR/), Yahoo Finance