3 Things About Palantir That Smart Investors Know
Palantir (NYSE: PLTR) gained a lot of attention when it went public through a direct listing in 2020. It initially developed its data analytics platform with funding from the CIA in response to the terrorist attacks of Sept. 11, 2001, and its technology was reportedly used to hunt down Osama Bin Laden in 2011. Its Gotham platform has been widely adopted by the U.S. military and a wide range of government agencies over the past two decades, and it boldly declared it would become the "default operating system for data across the U.S. government" in its S-1 filing prior to its public debut.
All that excitement propelled Palantir's stock price from its debut price of $10 to an all-time high of $39 in January 2021. But today, it trades at about $15 a share. It lost its luster as its growth cooled off and rising interest rates rattled the markets.
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