Palantir Technologies (PLTR) stock is retreating for a second straight day today, with the shares sinking 6% this afternoon. Today’s decline comes after Cathie Wood’s top ETFs sold nearly 200,000 shares of PLTR stock yesterday.

Shares of Palantir (PLTR) dropped more than 5% on Monday as the stock reacted to a new rating from Wall Street. Analysts from Morgan Stanley re-initiated coverage of Palantir with a “sell” recommendation.

On December 6, Sanjit Singh, a Morgan Stanley (NYSE: MS) enterprise software equity analyst, gave Palantir stock an ‘Underweight’ rating, with a $60 price target. If met, his forecast would equate to a 24.78% downside from the current price of a Palantir share.

Morgan Stanley assigned a new analyst to cover hot artificial intelligence stock Palantir Technologies, and the Wall Street firm joined the ranks forecasting worse times ahead for the stock.

Palantir shares, which added around $150 billion in market value last year, were a standout performer in the data analytics and AI-tech space as investors bet on the profit potent