Palantir Shares Fall After Record Run-Up Despite Sales Surge

Palantir shares fell about 3% in extended trading after earlier gaining as much as 7% following the report. The company had a price-to-sales ratio of 85 as of Friday — the highest in the S&P 500 Index. “All these numbers are completely disengaged from fundamentals,” D.A. Davidson’s Gil Luria said in an interview with Bloomberg Television.