Why Palantir Rocketed 25% Higher This Week
Shares of artificial intelligence and big data software platform Palantir (NYSE: PLTR) rose this week, appreciating 25.1% through Friday trading at 2:27 p.m. ET, according to data from S&P Global Market Intelligence.
The company reported earnings on Thursday, which beat expectations, while the company's guidance also outperformed expectations as well.
As we've seen this earnings season, forward guidance can make or break stocks. And as Palantir was founded as a counterterrorism technology platform that still gets a majority of revenue from government and military contracts, investors may be anticipating more demand following the tragic recent events in the Middle East last month.
Source Fool.com
