Palantir (PLTR) shares closed at $186.03 on October 16 after a 7.2% drop amid a broader software-sector selloff, pulling back from an October high near $213 and all-time peaks above $212. Strong Q2 results—93% revenue growth to $1.94 billion, with U.S. commercial revenue surging 149%—along with elevated 62% adjusted operating margins and upgraded full-year 2026 guidance near $8.15 billion continue to underpin trader sentiment. The stock trades at roughly 158 times trailing earnings and 73 times sales, reflecting premium valuations for its AI platform adoption and government-commercial backlog. With the October 30 close just days away and Q3 results scheduled for November 2, near-term price action will hinge on momentum recovery and any last-minute macro or sector catalysts before resolution.