The Palantir Reveals a Dire Future

Beats expectations but falls anyway as AI stumbles                                                                                                                                                                                                                                                                                                                                                                                                                 August 08, 2023 | [Read Online]( Dawn Report August 8, 2023 Talk about Great Expectations. Palantir (PLTR) is one of the leaders in AI, but if there’s one thing we can say about this sector, it’s that the rhetoric is running a bit ahead of the reality. Palantir reported earnings and revenue and on the surface, it was all good news. Its full-year guidance was increased. Earnings and revenue met expectations. A new contract from U.S. Special Operations Command could potentially be worth $463 million, and international government revenue increased by 36%. The company also approved a stock buyback program. Nonetheless, some analysts were frustrated because AI is not leading to the blockbuster growth that the company arguably needs. Palantir itself warned in May that “there are many challenges customers will encounter as they attempt to leverage this technology operationally at any scale.” The reality check for AI could be coming soon. This has major implications, as the AI boom has been supporting the tech sector in what many analysts regard as a surprisingly strong 2023. (Remember, the smart money was for a recession this year - and it is by no means clear that the risk has been avoided.) If that support is kicked out, we could see the euphoria fade fast as people secure their pre-existing gains. Be quick or be dead. Get What’s Yours, Jeff Bishop WORD ON THE STREET The Mother of All Book Sales - $1.62 Billion For Simon & Schuster - Paramount Global (PARA) is selling the book publisher to KKR, a private equity company, for the eye-popping sum of $1.62 billion. The move comes after a judge prevented it from being sold to Penguin. It’s still a downgrade for the company - the deal with Penguin would have been for over $2 billion. - LA Fears City Worker Strike - The strike in the entertainment industry isn’t enough. Now city workers in Los Angeles are going to join them. About 11,000 city employees in sanitation, transportation, and other sectors will go on strike today, with the explicit purpose of “shutting down” the city. - Bidenomics Hits The Road - President Joe Biden is heading to the American Southwest to try to improve Americans’ opinion of the economy. He claims that Americans are “starting to feel a sense of optimism as they see the impact of the achievements in their own lives.” He’s also calling for more focus on the climate, attempting to tie the record-breaking heat to his “clean energy” agenda. - Lay Off The Beef At ALDI - The U.S. Department of Agriculture is warning that raw beef sold at ALDI’s could contain plastic. Specifically, the agency says to avoid a certain type of Black Angus beef packaged on July 25, 2023 with the expiration date of August 22, 2023. More details are available from the Food Safety and Inspection Service. HOT SPOTS: What's Going on in Geopolitics - Ukraine Claims It Foiled Assassination Plot - A supposed Russian plot to assassinate Ukrainian president Volodymyr Zelenskyy was foiled after Kyiv detained a Russian informant feeding information on the president’s movements to Moscow. Ukraine’s SBU, the security service, says it caught the woman “red-handed.” - China Tilts Towards Ukraine - New Chinese Foreign Minister Wang Yi told his Russian counterpart that Beijing would have an “impartial” position on ending the war in Ukraine. China also notably tilted towards Ukraine during a recent summit in Saudi Arabia that explicitly excluded Russia. - Former Pakistani PM Sentenced To Prison - Former Pakistani Prime Minister Imran Khan has been sent to a high-security prison for three years after being found guilty of corruption. Despite massive public support, he could also face the end of his political career, as those with a criminal conviction can’t seek office. CUTTING EDGE: What['](s Happening In Tech - Tesla Loses Its Master Of Coin - Tesla CFO (or in Teslaspeak, “Master of Coin”) Zachary Kirkhorn is stepping down from the company. He will be replaced by Vaibhav Taneja. TSLA was down during the trading day. - Lucid Strikes Out - Lucid, one of Tesla’s key EV competitors, disappointed on both earnings and revenue. Revenue was about $26 million below expectations and earnings were about $0.06 per share below what was expected. - Read My Lips. More New Taxes. - Meta Platforms pulled news coverage from its app in response to a new tax on using journalism content on Facebook. Canada has a bold solution - another new tax. Large technology companies will be taxed 3%, with Amazon, Meta, Walmart, and other companies taking the hit. But don’t worry, it’s called the “Digital Services Tax Act.” It’s for your own good! FOR YOUR CONSIDERATION “Months after we closed Rouge Investing Daily, it’s worth looking at the portfolio and seeing what those still holding these positions might want to consider.” It’s time for a blast from the past. Past performance doesn’t always tell us about future success… but it helps. Mr. X returns to Rogue Investing Daily and analyzes the Legacy Portfolio. And good news… we have one potential triple-digit gain pending. [ROGUE INVESTING DAILY UPDATE]( Enjoying Dawn Report? Learn something, made some money? SHARE YOUR STORY WITH US OR TELL US HOW TO SERVE YOU BETTER. Let us know at info@rogueinvesting.com You’re receiving this email because you're signed up for alerts from Dawn Report. Make sure to keep them coming by [whitelisting Rogue Investing](. The information in this email is intended for informational purposes only and does not guarantee specific results as there is a high degree of risk involved with trading. Also, our traders are real traders and may have financial interests in the companies discussed. Please see our [Terms and Conditions]( for more information. Update your email preferences or unsubscribe [here]( © Dawnreport 62 Calef Hwy. #233 Lee, NH 03861, United States