Palantir has appreciated 88% in less than two months: opportunity or bubble?
Shares of Palantir Technologies, the big data analytics company, have risen by almost 88% since their debut on Wall Street on September 30, and don't seem to have lost steam despite the Democratic victory in the United States elections. Founder Peter Thiel is known for his sympathy for the Republican Party and, in particular, for Donald Trump.
Be that as it may, Palantir closed yesterday's session with a rise of 12.05% to $17.85 after revealing that its shareholders included not only George Soros' fund but also several hedge funds that took positions in the company in recent days. Point72 Asset Management and Anchorage Capital Group are among these funds, according to MarketWatch.
For its part, Soros Fund Management has acquired 18.5 million shares this week at $9.5 each.
Source: Admiral Markets MetaTrader 5. Palantir CFD Daily Chart. Data range: from September 30, 2020, to November 18, 2020. Prepared on November 18, 2020, at 12 noon CET. Keep in mind that past returns do not guarantee future returns.
The company, last week, presented its first quarterly results since going public, reporting losses of nearly $900 million. Palantir, however, stressed that the coronavirus pandemic is opening new opportunities for the company as it is winning government contracts to assist in data processing both in clinical data and in the future distribution of vaccines.
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