Palantir (NASDAQ: PLTR) has been on an incredible run since the start of 2024. At its peak, Palantir's stock has risen 625% since the start of 2024, but that number took a hit when CEO Alex Karp announced a plan to sell up to $1 billion in shares.

Palantir’s stock surge—over 600% in one year, before this week’s slide—has made its CEO Alex Karp a wealthy man. Karp sold nearly $2 billion worth of company shares last year, with the bulk of sales taking place in a single month around the presidential election.

Palantir Technologies (NASDAQ:PLTR) shares had a brutal day, sinking 10% during regular trading and tumbling another 5% after hours. Investors

It's like, there's this one issue where I might, and then you get boxed into, you cannot solve the problem. And then I would say, what is the biggest problem in this society? Biggest problem in this society from my perspective is legitimacy of our institutions.

Nevermind that Palantir's stock price dropped and DOGE is slashing government contracts. Karp thinks his defense tech firm will thrive in a meritocracy.

Alex Karp said if he were fired from Palantir, he'd move to his "hermit-like location" and focus on his hobbies.