Shares of Palantir Technologies were trading lower Monday, but stock of the software company still boasts incredible gains this year. The software stock fell 9.8% to $59.30 and was on track for its largest daily percentage decrease since May,

Among those selling the stock was CEO Alex Karp, who filed to sell 4.5 million shares of the stock on Friday, which has a market value of $266 million. That sale was predetermined by a 10b5-1 plan, which sells stock at set intervals to avoid suspicions of insider trading. Palantir stock was down 5.38% as of 11:45 a.m. ET.

Few companies have reacted more to Trump's presidential election victory than Palantir Technologies (NYSE: PLTR), a data analytics and artificial intelligence (AI) company with a strong focus on defense and law enforcement.

Palantir Technologies, the newest S&P 500 member, was the index's best performer in 2024 as of Nov. 15. But it didn't last long.Nvidia was the biggest S&P 500 leader in 2023 and ruled for much of 2024,

In a week when the broad market rally lost some steam, Palantir Technologies Inc. (NYSE: PLTR) ended the week on a tear. PLTR stock was up 9.13% at the close of trading on November 15. The catalyst for the price movement was the announcement that Palantir was leaving the New York Stock Exchange and would be listed on the NASDAQ exchange.

Palantir is quickly becoming an important pillar supporting the U.S. military's focus on artificial intelligence (AI).