Palantir Technologies Inc.’s stock is falling more than 13% on Tuesday, despite the company’s solid first-quarter earnings and better-than-expected guidance. “Palantir is on fire,” Chief Executive Officer Alex Karp said on Monday afternoon’s earnings call,

Palantir Technologies ( PLTR -11.92%) stock had plunged 14% as of 10 a.m. ET on Tuesday, May 6, as investors reacted to its first-quarter financial results. The company reported solid results amid continued demand for its artificial intelligence (AI) platform, but the market clearly had higher expectations.

Palantir Technologies is slated to report quarterly results after the market closes on Monday, and investors are positioning for a big stock move.