Palantir Technologies To Hold Board Meeting In Tel Aviv Next Week: 'We Stand With Israel'
Portfolio Pulse from Benzinga Neuro
Palantir Technologies (NYSE:PLTR) announced it will hold its first board meeting of the year in Tel Aviv, Israel, as a sign of solidarity with the country. Palantir has operated in Israel for a decade and has previously expressed support for Israel, especially during the conflict with Hamas. The company's AI software is used in various sectors, including public health and defense. Palantir's public stance has led to protests, such as the one by Healthcare Workers for Palestine at Palantir's UK office. Palantir's stock closed 3.44% lower at $16.58 and fell another 0.3% after-hours.
January 03, 2024 | 3:57 am
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Palantir's decision to hold a board meeting in Tel Aviv and its public support for Israel may polarize investors and affect its stock price, which has already seen a decline.
Palantir's explicit support for Israel and the resulting protests could lead to reputational risks and potential boycotts, which may concern investors and negatively impact the stock price in the short term. The recent drop in stock price post-announcement indicates market sensitivity to such geopolitical affiliations.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90