Why Palantir Technologies Stock Soared 10% on Friday

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Why Palantir Technologies Stock Soared 10% on Friday

Motley Fool2023-07-29

KEY POINTSA bullish analyst note and rising market drove Palantir higher.The company is uniquely positioned to benefit from the accelerating demand for AI.What happenedShares of Palantir Technologies ...

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Upswing118
·2023-07-30
For d longest time it was to go up. This is play in line w mkt movement?
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Bi Han
·2023-07-29
🚀🚀🚀🚀
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Cedric77
·2023-07-29
I maybe wrong. This was my research.Here is the list of companies that Palantir Technologies Inc (PLTR) has invested in 2023, including the average buying price, the date of purchase, and the current price. (PLTR is no different from retail like us. Their investment may not be always on the upside.) AdTheorent: Average buying price of $24.36, purchased on January 10, 2023. Current price of $13.37. Wejo: Average buying price of £3.76, purchased on February 14, 2023. Current price of £0.21. Moderna: Average buying price of $182.45, purchased on March 8, 2023. Current price of $110.79. Kuri: Average buying price of $12.97, purchased on April 12, 2023. Current price of $0.32. MAAC: Average buying price of $9.98, purchased on May 10, 2023. Current price of $7.75. ROT: Average buying price of $9
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Nase
·2023-07-29
This is how blow up top and denials looks like
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While the rising tide of the market no doubt added fuel to its increase, the catalyst that sent the artificial intelligence (AI) and data mining specialist higher was coverage initiation and bullish commentary from a veteran Wall Street analyst.So whatWedbush analyst Dan Ives initiated coverage on Palantir with an outperform (buy) rating and a $25 price target, which represents potential upside for investors of 55% compared to Thursday's closing price. But it was as much the analysts' bullish commentary that sent the stock soaring. \"We believe Palantir has built an AI fortress that is unmatched,\" Ives said, positing that the company is \"poised to be a major player in this AI Revolution over the next decade.\" The analyst cited Palantir's AI know-how and the potential to \"capitalize on its data-driven foundation ... [to] harness the power of emerging [large language models] to enhance platform capabilities.\" The accelerating demand for AI will no doubt boost Palantir's fortunes over the coming year, as we're still in the early innings of the AI revolution.Now whatI've long touted Palantir as a stock to buy, even before 2023 kicked off the AI revolution. The company recently generated a profit for the second consecutive quarter, and the rapid acceleration of AI will only further boost its fortunes.To be clear, Palantir isn't cheap, selling for 14 times next year's sales. That said, I'd argue that it has been building its AI foundation for two decades and is well positioned to benefit from these strong, but still early stage, secular tailwinds.","kind":"highlight","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":203436167151760,"gmtCreate":1690696201230,"gmtModify":1690696205543,"author":{"id":"4087685930931350","authorId":"4087685930931350","name":"Upswing118","avatar":"https://static.tigerbbs.com/5ee810deeb4fd3c3d863b49cef1d9956","vip":1,"crmLevel":5,"crmLevelSwitch":1,"authorIdStr":"4087685930931350","idStr":"4087685930931350"},"htmlText":"For d longest time it was to go up. This is play in line w mkt movement?&nbsp;","listText":"For d longest time it was to go up. This is play in line w mkt movement?&nbsp;","text":"For d longest time it was to go up. This is play in line w mkt movement?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/203436167151760","repostId":2355659502,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":203131602772120,"gmtCreate":1690621978497,"gmtModify":1690621981772,"author":{"id":"3570004939267641","authorId":"3570004939267641","name":"Bi Han","avatar":"https://static.itradeup.com/news/6765c2bb071c1df5b7fd4e34c533c22e","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":9,"crmLevelSwitch":1,"authorIdStr":"3570004939267641","idStr":"3570004939267641"},"htmlText":"🚀🚀🚀🚀","listText":"🚀🚀🚀🚀","text":"🚀🚀🚀🚀","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/203131602772120","repostId":2355659502,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":203039640678616,"gmtCreate":1690599503320,"gmtModify":1690600949189,"author":{"id":"3575196385895354","authorId":"3575196385895354","name":"Cedric77","avatar":"https://static.tigerbbs.com/e5ee082b05004f20d3486afedee30814","vip":1,"crmLevel":4,"crmLevelSwitch":1,"authorIdStr":"3575196385895354","idStr":"3575196385895354"},"htmlText":"I maybe wrong. This was my research.Here is the list of companies that Palantir Technologies Inc (PLTR) has invested in 2023, including the average buying price, the date of purchase, and the current price. (PLTR is no different from retail like us. Their investment may not be always on the upside.) AdTheorent: Average buying price of $24.36, purchased on January 10, 2023. Current price of $13.37. Wejo: Average buying price of £3.76, purchased on February 14, 2023. Current price of £0.21. Moderna: Average buying price of $182.45, purchased on March 8, 2023. Current price of $110.79. Kuri: Average buying price of $12.97, purchased on April 12, 2023. Current price of $0.32. MAAC: Average buying price of $9.98, purchased on May 10, 2023. Current price of $7.75. ROT: Average buying price of $9","listText":"I maybe wrong. This was my research.Here is the list of companies that Palantir Technologies Inc (PLTR) has invested in 2023, including the average buying price, the date of purchase, and the current price. (PLTR is no different from retail like us. Their investment may not be always on the upside.) AdTheorent: Average buying price of $24.36, purchased on January 10, 2023. Current price of $13.37. Wejo: Average buying price of £3.76, purchased on February 14, 2023. Current price of £0.21. Moderna: Average buying price of $182.45, purchased on March 8, 2023. Current price of $110.79. Kuri: Average buying price of $12.97, purchased on April 12, 2023. Current price of $0.32. MAAC: Average buying price of $9.98, purchased on May 10, 2023. Current price of $7.75. ROT: Average buying price of $9","text":"I maybe wrong. This was my research.Here is the list of companies that Palantir Technologies Inc (PLTR) has invested in 2023, including the average buying price, the date of purchase, and the current price. (PLTR is no different from retail like us. Their investment may not be always on the upside.) AdTheorent: Average buying price of $24.36, purchased on January 10, 2023. Current price of $13.37. Wejo: Average buying price of £3.76, purchased on February 14, 2023. Current price of £0.21. Moderna: Average buying price of $182.45, purchased on March 8, 2023. Current price of $110.79. Kuri: Average buying price of $12.97, purchased on April 12, 2023. Current price of $0.32. MAAC: Average buying price of $9.98, purchased on May 10, 2023. Current price of $7.75. ROT: Average buying price of $9","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/203039640678616","repostId":2355659502,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":203004439081048,"gmtCreate":1690590784368,"gmtModify":1690590787499,"author":{"id":"4099451016804780","authorId":"4099451016804780","name":"Nase","avatar":"https://community-static.tradeup.com/news/75fd46c54802015fad711baba153fe17","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":6,"crmLevelSwitch":0,"authorIdStr":"4099451016804780","idStr":"4099451016804780"},"htmlText":"This is how blow up top and denials looks like&nbsp;","listText":"This is how blow up top and denials looks like&nbsp;","text":"This is how blow up top and denials looks like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/203004439081048","repostId":2355659502,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":46,"commentSize":4,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}