RTTNews | Jul 7, 2021 01:06PM EDT

13:05 Wednesday, July 7, 2021 (RTTNews.com) - Colorado-based software company Palantir Technologies Inc (PLTR) is trading 7% lower in the Street on Wednesday as the company shares continue to slip. However, there has been news from the company that can be attributed to the drop.

Palantir's shares have been on the decline in the last few weeks. On June 21, the company won a tender to make an analytics tool for the Federal Aviation Administration to derive the modernized objectives for aviation safety. Following this event, the shares rose as high as $27.5 in late June.

The shares are currently trading hands at $23.14, down $1.55 or 6.26% since their previous close at $24.68. The shares opened trading at $24.23 and in the 52-week period, the shares have traded between $8.90 and $45.00.

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