Why Shares of Palantir Are Trading Higher Today
Shares of the artificial intelligence (AI) decision-making company Palantir Technologies (NASDAQ: PLTR) traded roughly 7.4% higher, as of 11:27 p.m. ET today. There was no clear company-specific reason behind the move, but shares seemed to be rallying along with the broader market in hopes of some reprieve from tariffs.
After markets got crushed between Thursday and Monday, investors are finally catching a break with a broader market rally today in hopes that President Donald Trump and his administration will strike trade deals with other countries and avoid having to implement the steep tariffs announced last week. No stock has been spared from the fall.
Compared to many other stocks, Palantir has held up quite well this year, with its stock up 12%. The stock still trades at a sky-high valuation, and Palantir has also managed to shake off concerns about spending cuts to the U.S. Department of Defense's budget, which could impact the company because it does a lot of work with the U.S. government in the defense space.
Source Fool.com
