Investors got a reminder of the capabilities of Palantir Technologies' (NYSE: PLTR) products, helping to reinforce the bull case for the stock. Shares are surging higher as a result, up as much as 9.5% on Thursday morning.
Palantir came to market in late 2020 to great enthusiasm, based largely on the reputation of its technology. The data-analytics provider is credited with helping the Pentagon find Osama bin Laden and with flagging the Bernie Madoff Ponzi scheme. But in the quarters since its debut the excitement about the technology has been counteracted by the realities of trying to grow a business.
After initially climbing nearly 300% from the initial public offering price, shares of Palantir have given those gains back over the past year.
Source Fool.com