What Happened With Palantir Stock Today?
Portfolio Pulse from Erica Kollmann
Palantir Technologies Inc. (PLTR) shares rose as the company joined the S&P 500, replacing American Airlines Group, Inc. (AAL). Despite a downgrade from Raymond James, Palantir's stock has gained 20% over the past month due to new contracts and its S&P 500 inclusion.
September 23, 2024 | 8:36 pm
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NEGATIVE IMPACT
American Airlines was replaced by Palantir in the S&P 500, which may negatively impact its stock due to reduced exposure and potential selling by index funds.
Being removed from the S&P 500 can lead to decreased visibility and selling pressure from index funds, likely causing a short-term negative impact on AAL's stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Palantir's inclusion in the S&P 500 is likely to boost its stock due to increased exposure and index fund accumulation. Despite a downgrade, the stock has gained 20% recently, driven by new contracts and its S&P 500 entry.
Palantir's inclusion in the S&P 500 increases its visibility and demand from index funds, likely driving the stock price up. The recent 20% gain is supported by new contracts, outweighing the impact of the downgrade.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100