Palantir Technologies shares have has become a focal point of market debate in recent sessions. A new short-seller report clashes with bullish catalysts from government and enterprise sectors.

Had you invested $100 into the stock three years ago (with Aug. 14, 2022, as the starting point), your investment would be worth over $1,850. Calling those returns impressive would undoubtedly be an understatement.

While the operational momentum is clearly solid, investors should pay closer attention to the risks. History shows Palantir stock can fall hard as sentiment shifts.