Just days ahead of its second-quarter earnings report, Palantir was trading near record levels. On July 31, the stock reached an all-time intraday high of $160.89. It closed at $154.27 on August 1, weighed down by a broader market slump.

In this photo illustration, a smartphone displays the logo of Palantir Technologies Inc. (NYSE: PLTR), an American big data analytics and software company, in front of a screen showing the company's latest stock market chart on July 30,

Palantir ( PLTR -2.46%) has been one of the best-performing stocks in the market during 2025. It's up around 110% for the year -- a one-year return many investors dream about. However, when a stock has risen that much, most investors get worried that they've missed the boat and that Palantir's stock doesn't have any more room to run.