Why Shares of Palantir Soared Today
Shares of the artificial intelligence decision-making company Palantir (NASDAQ: PLTR) rose nearly 4.8% today, as investors poured back into AI stocks. Palantir is one of the purest-play AI companies in the market, making it an obvious beneficiary.
Ever since New York Federal Reserve President John Williams, during an event last Friday, hinted at being in favor of another interest rate cut at the Fed's final meeting of the year in December, the market has suddenly become very optimistic about such an event materializing. Tech and AI stocks tend to perform better in a falling interest rate environment, as investors increase their appetite for risk to achieve more yield.
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Source Fool.com
