24H | Palantir Stock Jumps 3.5% After Announcing Transfer of Stock Exchange Listing to Nasdaq

Tiger Newspress11-15

Palantir Technologies on Thursday said it will transfer the listing of its Class A Common Stock to the Nasdaq Global Select Market from the New York Stock Exchange.

The company expects to begin trading as a Nasdaq-listed company on November 26, and its common stock will continue to trade under the symbol “PLTR.”

PLTR stock up 3.5% in overnight trading.

The move positions Palantir for more index eligibility, as Palantir anticipates meeting the requirements for the Nasdaq 100 index NDX, which is made up of the largest non-financial companies listed on the exchange. The company had a $135 billion market capitalization as of Thursday's close.

Investors can get excited about the prospect of new index entry because it means that funds tracking that index would have to buy Palantir shares. Addition into a high-profile index also serves as another sign of legitimacy to Wall Street.

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Comments

  • Vik Sidhu
    11-15
    Vik Sidhu
    as shareholders do we need to take any action from our end for this move. Sorry, I am new here, hence asking the question in community. Thank you 
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