What's Going On With Palantir Technologies Shares
Portfolio Pulse from Henry Khederian
Shares of Palantir Technologies Inc (NYSE:PLTR) are trading higher by 4.0% to $15.74 during Friday's session, rebounding from Thursday's weakness. The rise is attributed to better-than-expected U.S. jobs data and the likelihood of more rate hikes as stated by Dallas Fed president Logan. The company's shares have also surged by 145% on a year-to-date basis amid strength in AI-related stocks.
July 07, 2023 | 4:43 pm
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Palantir's shares are trading higher due to positive U.S. jobs data and the potential for more rate hikes. The company's stock has also seen a significant year-to-date increase due to the strength in AI-related stocks.
The rise in Palantir's shares is directly linked to the better-than-expected U.S. jobs data and the potential for more rate hikes. These factors have created a positive sentiment in the market, leading to an increase in the company's stock price. Additionally, the overall strength in AI-related stocks has also contributed to the year-to-date increase in Palantir's shares.
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IMPORTANCE 80
RELEVANCE 100