Could Palantir Technologies Stock Help You Become a Millionaire?
Palantir Technologies (NYSE: PLTR) went public in September 2020 at $10 a share, and here we are 16 months later and the data analytics specialist is trading at $13 a share, a 30% gain. Not a bad return for a year and half's investment.
Yet most of Palantir's gains came from being caught up in the meme-stock trading frenzy last year that saw its shares reach a high of $45 a share, only to be mostly on a long, slow roll downhill ever since. Thus its gains are more a residual effect of having been bid up so high than of proving its mettle in the market.
With much of Palantir's business coming from government contracts while trying to break further into the crowded private sector market, let's see if the data analytics firm has what it takes to make a millionaire out of an investor today.
Source Fool.com
