Like am I the only one who thinks this thing is wildly overvalued?

$300 billion market cap for what's basically a government software company with barely any commercial business outside of Washington?

And the whole political vibe around it is shifting too. Nobody wants to be loud about surveillance tools with midterms coming up. Maybe that's why it's down 25% ytd and keeps gapping down.

Meanwhile $AI is out here doing similar work at a $1.5 billion valuation. That difference is kinda hard to explain to me.

Genuinely asking though am I missing something or does $PLTR just feel like a stock still running on an old story?