Shares of Palantir are under pressure after a Reuters report on a leaked memo citing security problems in the battlefield communications at new products from Anduril and Palantir
The September memo from the Army's chief technology officer about the NGC2 platform that connects soldiers, sensors, vehicles and commanders with real-time data paints a bleak picture of the initial product. "We cannot control who sees what, we cannot see what users are doing, and we cannot verify that the software itself is secure," the memo says.
The leak said the army should treat the prototype system as "very high risk" because an adversary could obtain undetected access.
Shares of Palantir are down 4.5% and could be forming something of a double top.
Palantir daily PLTR
The company is extremely highly valued on expectations it will make great inroads into defense contracting and likely because the market thinks that a surveillance state is coming and Palantir will run it.
Anduril is privately owned.
