Why Palantir Stock Is Gaining Today

After some big sell-offs, the market is rallying today, and Palantir (NYSE: PLTR) is getting a boost from the momentum. The data analytics specialist's share price was up roughly 5.7% as of noon ET on Thursday.

In the absence of any fresh, business-specific news, Palantir stock has frequently made outsize moves in conjunction with the market's shifting appetite for growth-dependent technology companies. The tech-heavy Nasdaq Composite index was up roughly 1.8% as of the same time today. In addition to rebound momentum following steep sell-offs for growth stocks, it's possible that a new report from the Department of Labor is also playing a role.

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Source Fool.com