Why Shares of Palantir Technologies Are Up Again Today
Data analytics company Palantir Technologies (NYSE: PLTR) has long been a favorite of the WallStreetBets subreddit community, leading to a lot of volatility in the stock in recent weeks. Monday was no exception, with Palantir shares trading up as much as 21% and down as much as 10% midday before stabilizing to trade up nearly 10% in the final hour of trading.
Palantir went public in late September and has captured investor imagination in the months since. The stock has nearly doubled since its debut, with investors attracted to its well-regarded technology and high-profile backers including its executive chairman, Peter Thiel.
The company provides data analysis for a range of government and private customers but is best known for its work with government spy agencies, including reportedly being involved in the capture of Osama bin Laden.
Source Fool.com
