India, Feb. 4 -- The stock price of Palantir Technologies Inc., which opened at $155.74 USD on Wednesday on the NASDAQ, crashed over 10% in the day's trade, going as low as 141.48 at one point.

Wednesday's fall is one of the sharpest the company has witnessed in recent times, which effectively wiped off $40 billion from the company's market cap. The sharp fall came despite a positive Quarter 4 earnings report presented by the company earlier this week where it beat estimates with 56% revenue growth.

Notably, Palantir is not the only tech company that saw a sharp fall in stock prices on Wednesday. Many other tech stocks, such as, Advanced Micro Devices, Applovin Corp, Western Digital and Micron Technology Inc, also registered between 9% ...