Palantir Stock Investors Have Their Moment
Shares of the data analytics company, which is set to join the S&P 500, have more than doubled this year and are up another 2.8% Monday.
Roughly half of Palantir’s available shares are owned by individuals, according to FactSet.
Tweet on Plantir’s recent stock surge
Shares of the data analytics @PalantirTech, which is set to join the S&P 500, have more than doubled this year and are up another 3% today (Monday)#palantir #data #Analytics pic.twitter.com/pmyu6IBQNT
— The_Journalbiz (@the_journalbiz) September 16, 2024
Factset chart
Much of that gain has accrued not to big institutions but to loyal amateurs who have long supported the company and its CEO Alex Karp.
That is a higher portion than most companies including Tesla, a favorite among small investors. Karp said Palantir’s investors are “courageous enough to invest their own money…in what they believe in.”
Shareholders have been rewarded this year. The stock has more than doubled in 2024. Companies added to the S&P 500 often get a boost in stock price because index funds—which manage trillions of dollars of assets—buy shares to match the index’s composition. Palantir shares have risen for six consecutive sessions and are up about 17% since the S&P 500 announcement.
