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U.S. stocks ticked higher at midday Wednesday, buoyed by signs of progress in U.S.-China trade negotiations and cooler-than-expected inflation data, both of which supported risk appetite.
Shutterstock / Piotr Swat Palantir Technologies Tech giant Palantir (NYSE: PLTR) provides data analytics tools to government and private companies.
Palantir's financials are outstanding, with accelerating revenue, profit, and cash flow growth, driven by surging US commercial and government contracts. Despite a lofty valuation, Palantir's unique AI positioning and innovation make it a compelling long-term play as AI adoption expands across industries. I rate Palantir a 'buy' for new long-term investors, but recommend waiting for a pullback if adding to an existing position due to high valuation.
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ipopba / iStock via Getty Images Palantir has made several important announcements over the past few weeks, including a $30 million contract with ICE to develop a system to help with deportations, and a partnership with TWG Global and xAI to bring AI to the financial services industry.
The three stocks in this analysis all have seen interest over the last couple of sessions in the United States, and all look likely to continue doing so, even with resistance forming against a couple of them.
Insiders at American software giant Palantir (NASDAQ: PLTR) are increasingly offloading shares, even as the stock surges amid a wave of lucrative government contracts.
As of closing bell on June 6, shares of enterprise software darling Palantir Technologies have gained 69% on the year, making it the top-performing stock in the Nasdaq-100 index.
Shares of Palantir Technologies (PLTR 0.51%) were up in May. The company's stock finished the month up 11.3%.
Shares of CoreWeave and Palantir Technologies have seen extraordinary gains in recent months, prompting comparisons to meme stocks. CoreWeave's share price has quadrupled since its downsized initial public offering in March, while Palantir's stock has surged over 470% in the past year.