Why Palantir Rallied Over 15% This Week

Shares of Palantir (NYSE: PLTR) rocketed 15.1% higher this week through Thursday trading, according to data from S&P Global Market Intelligence.

Palantir shot up Monday on news the stock would be added to the prestigious S&P 500 index. In addition, the company announced a five-year extension with oil and gas giant BP plc, and hosted its fifth AIPCon, showing off the company's AI platform.

The S 500 only admits certain companies that meet several criteria, including positive earnings over the past four quarters, a market cap that's greater than $8.2 billion, and a decently liquid stock.

Source Fool.com