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Palantir Technologies Inc (NASDAQ:PLTR) shares hit a new all-time high Monday morning, driven by a series of major contract announcements and strategic validation from industry leaders. Here’s what investors need to know.
What To Know: The momentum follows a new multi-million dollar partnership with Lumen Technologies. Palantir CEO Alex Karp called the deal “the holy grail for businesses,” claiming it could make AI data processing “200x faster” and “incrementally cheaper.” Lumen confirmed the $200 million price tag, which it will use as part of its own $1 billion cost-overhaul initiative.
Further fueling the rally, Palantir announced a letter of intent with Poland’s Ministry of National Defense, deepening its AI footprint on NATO’s eastern flank and solidifying its role as a critical defense partner.
The company’s strategy also received a significant nod from Oracle's Larry Ellison, who recently stated that AI needs private data, not just public web data, to reach its “peak value,” affirming Palantir's core business model.
Investors are now awaiting the company’s third-quarter earnings report, scheduled for release on Nov. 3rd. Palantir is expected to report EPS of 15 cents on quarterly revenue of $1.09 billion.
Benzinga Edge Rankings: Benzinga Edge stock rankings gives PLTR an exceptionally high Momentum score of 96.97, suggesting the stock is exhibiting very strong upward price action.
PLTR Price Action: Palantir Technologies shares were up 3.8% at $191.71 at the time of publication on Monday. The stock is trading at a new 52-week high, according to Benzinga Pro data.
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By now you're likely curious about how to participate in the market for Palantir Technologies – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
In the case of Palantir Technologies, which is trading at $190.92 as of publishing time, $100 would buy you 0.52 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
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Posted In: PLTR
