Why Palantir Technologies Stock Soared (Again) on Monday
Shares of Palantir Technologies (NYSE: PLTR) charged sharply higher (again) on Monday, spiking as much as 12.3%. As of 1:50 p.m. ET, the stock was still up 8.6%. This marks the second consecutive day of remarkable gains, as the stock gained more than 10% on Friday.
The artificial intelligence (AI) and data-mining specialist moved higher Friday on an initiation and bullish commentary by a veteran Wall Street analyst. That same analyst was making the rounds to discuss his call, further stoking excitement about the stock.
To recap, on Friday, veteran Wedbush analyst Dan Ives initiated coverage on Palantir, assigning the stock an outperform (buy) rating and a $25 price target, which represents potential gains for investors of 55% compared to Thursday's closing price. The analyst's bullish commentary helped drive the stock higher.
Source Fool.com
