Could Palantir Stock Help You Retire a Millionaire?
Palantir (NYSE: PLTR) turned a lot of heads when it went public through a direct listing three years ago. The secretive data mining and analytics company had been funded by the CIA's investment arm in its early years, and its Gotham platform had already been widely adopted by the U.S. military and most government agencies.
In its S-1 filing, Palantir declared its ultimate goal was to become the "default operating system for data across the U.S. government." It also aimed to expand its commercial Foundry platform by locking in more enterprise customers.
That roadmap looked promising, but Palantir has taken investors on a wild ride since its public debut. Its stock opened at $10 on the first trading day, then nearly quadrupled to its all-time high of $39 on Jan. 27, 2021. But today, it trades at about $16. The bulls retreated as its growth decelerated and rising rates compressed its valuations.
Source Fool.com
