Why Palantir Technologies Stock Rallied Monday Morning
Shares of Palantir Technologies (NYSE: PLTR) charged out of the gate on Monday, surging as much as 12.8%. As of 11:58 a.m. ET, the stock was still up 12.4%.
The catalyst that sent the artificial intelligence (AI) software and data mining specialist higher was an announcement the company would be joining one of the premier stock market indexes.
An announcement that dropped after the market close on Friday revealed that Palantir would be joining the S&P 500 at the start of trading on Sept. 23. In a press release that gave details of the reshuffling, S&P Global noted, "The changes ensure that each index is more representative of its market capitalization range."
Source Fool.com
