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Palantir Stock Got a Lift From an Army Contract. Bears Say Not So Fast.

Palantir Technologies is getting a little pushback from the Street on its announcement yesterday relating to the U.S. Army’s work to modernize the way it handles data and analytics.

Here’s the situation: In February 2020, the Army announced that Palantir (PLTR) and BAE Systems (BAESY) had been named as competitors for an $823 million, seven-year program to upgrade and replace components of the Army’s “Distributed Common Ground System.” Six companies had originally submitted proposals for the program.

Palantir…

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