Palantir Technologies shares recover from 6% decline after Trump endorsement on social media, though stock closes down 2% amid intensifying AI competition.

Palantir (NASDAQ:PLTR) shares reversed session lows Friday following a social media post from President Trump mentioning the company

Stock fell as much as 6% during the session before recovering, ultimately closing down 2% for the day

The rebound highlights investor sensitivity to political endorsements and public figures' statements regarding AI companies

Palantir faces ongoing competition from other AI firms including Anthropic in the artificial intelligence sector