Thursday, May 13, 2021

Palantir Technologies Inc. (PLTR) stock surges in premarket trading. What’s going on?

Palantir Technologies Inc. (PLTR), (formerly known as Palantir Finance), specializing in software for data integration, and quantitative analytics, saw its stock price increasing 0.9% to trade at $25.65 in premarket at last check. PLTR’s stock gained 8.91% to close Tuesday’s session at $25.42.


5 Stocks Under $10 That Are Poised to Take Off

Investing in stocks under $10 could significantly increase the returns on your portfolio, especially if you pick the right stocks! Within this report you will find 5 top stocks that offer investors huge upside potential and the best bang for their buck.

Add them to your watchlist before they take off!

Get the Top 5 Stocks Now!

Sponsored



PLTR Chairmanhints That Palantir Could establish itself in the bitcoin (BTC) space, which peaked investor interest. The transition to cryptocurrency increased the potential financial surplus for the company with revenue growth already tallied 47% last year. PLTR stock saw an incredible surge following the news.

About Palantir Technologies


A Backdoor Way To Profit From Today’s Crypto Bull Market

Even if you’re not actively in crypto, you deserve to know what’s actually going on...

Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.

Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free. .

Sponsored


Palantir specializes in data analytics, helping clients establish an algorithm, with a huge amount of data, allowing them to build an AI model with a higher accuracy rate. The U.S. Army Research Laboratory selected Palantir to help enhance its AI capabilities due to its lucrative business model and empowering clients to integrate gigantic datasets, helping the military to train algorithms

In addition, IBM is also working with Palantir to build a simple interface that eases the accessibility for the development of AI-powered applications. The management of the company expects the company’s market opportunity to reach $119 billion, which is more than 100 times its annual trailing revenue, emphasizing on the potential of growth in this lucrative field.

PLTR revenue also tallied 47% last year, due to various contractual agreements of PLTR’s, Gotham platform. Gotham specializes in data-mining services for the federal government and produces majority revenue for the company. Data analytic services provided by Gotham to the federal government is expected to sustain a growth rate in the 30% to 40% range, for Palantir, with the company striving to adequately understand the data and make their operations more effective.

Conclusion

PLTR offered a better-than-expected outlook for the current quarter and is anticipated to produce a decent profit as their stock price surged 8.91% to close Tuesday’s session after their announcement to enter into the BTC space. Furthermore, lucrative partnerships, such as with IBM and working closely with the Federal government and U.S Military has further increased investor expectation.

Latest news

What is behind the fall of Torchlight Energy Resources Inc. (NASDAQ: TRCH) stock?

Torchlight Energy Resources, Inc. (NASDAQ: TRCH), a growth oil and gas exploration company specializing in the acquisition and development of highly profitable domestic oil...

Eros STX Global Corporation (ESGC) stock is declining: Here is the reason why?

Eros STX Global Corporation (NYSE ESGC) a global multinational media company that acquires, produces, and distributes films, television shows, and digital content issued its...

Yum China Holdings Inc. (YUMC): The Most Important Numbers You Should Know

Yum China Holdings Inc. (YUMC), which operates Taco Bell Restaurants, KFC Restaurants, and Pizza Hut Restaurants in China, has published its first-quarter report for...

Why shares of Akerna Corp. (KERN) stock are up today?

Akerna (KERN), a cannabis technology company focusing to connect data points in the global cannabis supply chain and developer of the cannabis industry's first...

Related news

What is behind the fall of Torchlight Energy Resources Inc. (NASDAQ: TRCH) stock?

Torchlight Energy Resources, Inc. (NASDAQ: TRCH), a growth oil and gas exploration company specializing in the acquisition and development of highly profitable domestic oil...

Eros STX Global Corporation (ESGC) stock is declining: Here is the reason why?

Eros STX Global Corporation (NYSE ESGC) a global multinational media company that acquires, produces, and distributes films, television shows, and digital content issued its...

Yum China Holdings Inc. (YUMC): The Most Important Numbers You Should Know

Yum China Holdings Inc. (YUMC), which operates Taco Bell Restaurants, KFC Restaurants, and Pizza Hut Restaurants in China, has published its first-quarter report for...

Why shares of Akerna Corp. (KERN) stock are up today?

Akerna (KERN), a cannabis technology company focusing to connect data points in the global cannabis supply chain and developer of the cannabis industry's first...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.