NEW YORK, Aug. 29 -- Palantir Technologies Inc. PLTR ended Friday at $152.62, roughly 35 percent below its August peak, and the question the stock keeps asking is whether the pullback reflects a valuation reckoning or a buying opportunity that faster money created and slower money should now use.

The business itself is not the problem. Palantir reported second-quarter 2026 revenue of $1.94 billion in early August, up 94 percent year over year. U.S. commercial revenue jumped 149 percent. U.S. government revenue climbed 90 percent. The company raised its full-year 2026 revenue guidance to $8.154 billion at the midpoint, what CEO Alex Karp described as the largest guidance raise in company history. Operating margin hit 62 percent. Free cash...