Marvell stock tumbles 13% due to the decline of PLTR, and selling of AI stock intensifies
2026-11-03 20:52:44
According to CoinMeta, Marvell's stock tumbled nearly 13% on November 2 due to the announcement of a deal to acquire Lumentum for $115 billion, which sparked concerns among investors. Meanwhile, Palantir ( PLTR )'s stock fell about 8% in pre-market trading on Tuesday, despite a 96% increase in third-quarter revenue. The acquisition of Marvell is expected to be completed in the first half of 2028 and requires approval from shareholders and regulatory authorities. Palantir reported third-quarter revenue of $2.313 billion, exceeding Wall Street's expectations, but a slowdown in contract growth has raised market concerns.
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Source:Coinpaper
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