3 Reasons Palantir Stock Will Continue to Make a Comeback
Palantir Technologies'(NYSE: PLTR) stock shot 23% higher in Tuesday's trading as the company reported earnings for the first quarter of 2023. This took the stock past its 52-week highs as investors feel increasingly confident about a turnaround.
That optimism comes after a brutal sell-off. After falling from the $45 per share range in early 2021, the AI stock dropped below $6 per share. But since reaching that low, the stock has surged higher by more than 60%. That stock price increase points to the increasing likelihood of a sustained comeback, and three factors likely explain why.
For one, Palantir's tools continue to become increasingly popular. The Apollo operating system, Gotham national defense tool, and the Foundry platform for commercial customers continue to drive unprecedented demand as they apply AI to deliver analytical insights. Also, since competitors have not offered a comparable product, it benefits from its unique position in the marketplace.
Source Fool.com
