'Palantir Chairman Peter Thiel To Sell Up To $1B Of Stock' - Barron's
Portfolio Pulse from Benzinga Newsdesk
Palantir's stock has surged following the announcement of its inclusion in the S&P 500 index. Peter Thiel, a major shareholder, plans to sell up to $1 billion of his Palantir shares.
September 10, 2024 | 4:12 pm
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NEUTRAL IMPACT
Palantir's stock price has increased due to its inclusion in the S&P 500 index. However, Peter Thiel's plan to sell up to $1 billion in shares may create selling pressure.
The inclusion in the S&P 500 is a positive catalyst for Palantir, likely increasing demand from index funds. However, Peter Thiel's significant share sale could offset this by increasing supply, potentially stabilizing or slightly depressing the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100