Palantir ‘s high valuation leaves little rescue opportunities amid the ongoing selloff , according to Ritholtz Wealth Management CEO Josh Brown. “It’s not like the value guys are waiting and saying, ‘OK, here is where we pounce,'” Brown said Thursday on CNBC’s “Halftime Report.” “It’s kind of in a no-man’s land — it’s either momentum, or it’s value. Right now, it’s in the middle — it’s neither.” Brown pointed to the fact that the stock is trading at a price-to-earnings multiple of more than 500 and a forward multiple of the same measure of more than 180. So even with the recent drop, no value manager is close to looking at it yet and any momentum trader is likely taking profits, according to Brown. Shares tumbled more than 10% on Thursday, extending the prior session’s decline of 10%. While the drop was originally instigated by CEO Alex Karp’s plans to sell shares and reported comments from Defense Secretary Pete Hegseth around slashing defense spending, the continued declines have sparked concern that the once hot pick for retail investors could be getting dumped by these small traders. This comes after a 340% gain last year in the stock and continued surge this year before this week. PLTR 5D mountain Palantir, 5-day For long-term investors, he said they can “grit their teeth” and “live through” the pullback. For those late to the game that bought recently to get in on the hype, they may feel the pain for a while, he said. “What did you think you were buying?,” he said “I get it. I love watching Alex Karp be interviewed on ‘Squawk Box.’ I love hearing about the innovation. … But, this is a live-by-the-gun, die-by-the-gun type of stock, just purely based on the valuation.” Long-term outlook Still, Brown described Palantir as one the best-positioned companies in the world for the confluence of several market themes, including rising geopolitical tensions and the artificial intelligence boom. He also said the technology company has become “synonymous” with what’s expected in the next generation of warfare. While retail investors have poured into the stock recently, Wall Street is skeptical. The average analyst polled by LSEG has a buy rating and price target suggesting further downside over the next year. Virtus Investment Partners’ Joe Terranova said investors should watch for shares to fall near $84 or $85 as a buying opportunity, where support is based on past chart levels. If the stock falls below that level, the senior managing director said traders should grow wary. “The next several days, you have to sit, you have to … wait, be patient and understand that the stock can fall further,” he said. “A lot of people are riding really strong gains in this stock, and I think you have to be a little bit patient here and see if this is something that plays out over the next several days.”