This Meme Stock Is Finally Worth Buying
Software platform company Palantir Technologies (NYSE: PLTR) is a popular name among retail investors, who own most of its shares, compared to just 35% ownership by institutions and hedge funds. It behaved like a meme stock shortly after its direct listing in Sept. 2020. Trading opened at $10 per share before shooting up to almost $50 just a few months later. However, the stock has since come back down to about $13 as of this writing.
The company's financials are rapidly improving, and management is laying the groundwork for growth. Here's why Palantir Technologies is a compelling investment today.
Palantir's complex business and shroud of mystery could be why it's so appealing to retail investors. The company generates 56% of its revenue from the U.S. government, which hides a lot of Palantir's specific duties from the public's view.
Source Fool.com
