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Morgan Stanley Marks Down Palantir Shares 32%

A mutual fund managed by Morgan Stanley has marked down shares of Palantir by 32%, according to a Friday securities filing, well below the per-share valuation of the company’s recent fundraising.

The Morgan Stanley Institutional Fund Trust Mid Cap Growth Portfolio dropped the reported value of its Palantir stake to $7.70 per share as of Dec. 31. In comparison, Palantir raised $880 million in its most recent fundraising round at a price of $11.38 per share, which valued the company at around $20 billion. The round stretched from July to December.

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The markdown comes just a few months after the Morgan Stanley fund had marked up its stake in Palantir to the $11.38 a share value of the round then underway.