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Why Palantir Rallied 47.5% in the 1st Half of 2024

TheMotleyFool

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Why Palantir Rallied 47.5% in the 1st Half of 2024: https://g.foolcdn.com/editorial/images/783424/gettyimages-1451456915.jpg

Shares of big data software company Palantir (NYSE: PLTR) rallied 47.5% in the first half of 2024, according to data from S&P Global Market Intelligence.

Palantir got a tremendous boost after reporting its fourth quarter 2023 earnings in February, causing the stock to rise to levels not seen since late 2021.

The recovery has been a promising one for Palantir, which not only beat revenue guidance but also posted its first profitable year, on both a GAAP and non-GAAP basis.

Source Fool.com

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