PLTR Stock Price: Palantir Technologies rallies to close the week strong
Premium|Take advantage of 50% OFF on your first month.
Start your subscription and get access to all our original articles.
You have reached your limit of 5 free articles for this month.
Get all exclusive analysis, access our analysis and get Gold and signals alerts
Elevate your trading Journey.
UPGRADE- NYSE:PLTR ended flat on Friday after plummeting during intraday trading.
- Palantir has the eye of Ark Invest as the fund continues to load up on the data analytics giant.
- Palantir’s stock may be at the mercy of institutional hedge funds in the short term.
NYSE:PLTR avoided another disastrous week on the markets as it continues to be beaten down during the recent tech sector correction. On Friday Palantir sank during intraday trading, but much like the rest of the S&P 500, rallied into the closing bell. Overall, Palantir ended the trading session unchanged at $22.58 but has been able to garner some support in after hours trading. The data analytics company is now down nearly 50% off of its all-time highs of $45.00 set in late January, and continues to struggle following its IPO lockup expiry where executives unloaded millions of shares.
Stay up to speed with hot stocks' news!
One of the leading funds that retail and institutional investors follow is Ark Invest, and during Palantir’s downward trend, the investment group has been loading up on its shares. On Thursday, lead investor Cathie Wood once again added nearly a million more of Palantir’s shares to several of Ark’s ETFs. Like Wood, Palantir CEO Alex Karp has also been quoted as saying that the stock is for long-term investors and not for short-term traders. Investors who add some Palantir at these price levels may be getting a massive bargain compared to a few years down the road.
PLTR Stock forecast
Part of the volatility surrounding Palantir is its popularity amongst retail investors, particularly those who are a part of the great Reddit movement against Wall Street. Cathie Wood has also received some criticism and backlash from other institutional investors of late, so investors could expect these headwinds to continue to have an effect on Palantir’s stock. Things could be choppy, at least until Palantir’s next quarterly earnings call near the end of May.
- NYSE:PLTR ended flat on Friday after plummeting during intraday trading.
- Palantir has the eye of Ark Invest as the fund continues to load up on the data analytics giant.
- Palantir’s stock may be at the mercy of institutional hedge funds in the short term.
NYSE:PLTR avoided another disastrous week on the markets as it continues to be beaten down during the recent tech sector correction. On Friday Palantir sank during intraday trading, but much like the rest of the S&P 500, rallied into the closing bell. Overall, Palantir ended the trading session unchanged at $22.58 but has been able to garner some support in after hours trading. The data analytics company is now down nearly 50% off of its all-time highs of $45.00 set in late January, and continues to struggle following its IPO lockup expiry where executives unloaded millions of shares.
Stay up to speed with hot stocks' news!
One of the leading funds that retail and institutional investors follow is Ark Invest, and during Palantir’s downward trend, the investment group has been loading up on its shares. On Thursday, lead investor Cathie Wood once again added nearly a million more of Palantir’s shares to several of Ark’s ETFs. Like Wood, Palantir CEO Alex Karp has also been quoted as saying that the stock is for long-term investors and not for short-term traders. Investors who add some Palantir at these price levels may be getting a massive bargain compared to a few years down the road.
PLTR Stock forecast
Part of the volatility surrounding Palantir is its popularity amongst retail investors, particularly those who are a part of the great Reddit movement against Wall Street. Cathie Wood has also received some criticism and backlash from other institutional investors of late, so investors could expect these headwinds to continue to have an effect on Palantir’s stock. Things could be choppy, at least until Palantir’s next quarterly earnings call near the end of May.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.