Palantir Technologies was the worst performer in the S&P 500 on Tuesday, with the stock continuing to surrender gains following a blowout earnings report earlier this month.

Among the Nasdaq 100 stocks, Analog Devices ADI and Palo Alto Networks PANW rallied 3.7% and 1.6%, respectively, making them some of the best performers at the market open. On the downside, Intel INTC and Micron Technology MU tumbled 4.1% and 3.6%, respectively.

Palantir stock is continuing to slide today as investors focus on inflation-related concerns. Recent quarterly updates from Target and Home Depot have highlighted inflationary risks that are pressuring Palantir and other growth stocks.

Palantir Technologies Inc. (NASDAQ: PLTR) is one the AI Stocks Analysts Are Watching Closely . On August 18, Palantir stock received a cautious mention from Citron regarding the company’s stock valuation, marking the second time the firm has raised concerns.

Palantir stock fell for the sixth straight session on Wednesday. With the retreat, Palantir stock is down 18% from its all-time high.

The stock has climbed 2.5x since early January and now trades at around $185 per share. After such a rapid ascent, should investors holding sizable gains cash out?

Palantir Technologies shares have has become a focal point of market debate in recent sessions. A new short-seller report clashes with bullish catalysts from government and enterprise sectors.

However, since hitting a record closing high of $186.97 on August 12, the stock on Tuesday was on track for a five-day losing streak and its worst day since May 6. As of 1500 ET, PLTR's class A shares were -9.48% at $157.53.

Palantir stock has tanked over 20% from its all-time high but Jefferies analyst Brent Thill argues it could crash much further from current levels.

In the S&P 500, Analog Devices ADI took the lead with a gain of more than 4% while Target TGT weighed on the benchmark index with a loss of nearly 7%. The retailer triggered a sell rule by falling below its 50-day moving average in heavy volume and remained around 60% below its all-time high of 268.98.