Here's Why Palantir Stock Rose 12% in October
Shares of Palantir (NYSE: PLTR) gained 11.7% in October, according to data provided by S&P Global Market Intelligence. The AI stock surged higher following the reported end of a major insider trade. Momentum ahead of its November earnings report seems to have kept demand robust as the supply of shares dropped.
Palantir's billionaire founder Peter Thiel initiated a mass sale of more than $1 billion of his shares in May. Insider sales are highly regulated, so the sale was executed under SEC Rule 10b5-1. This is a special exemption with strict guidelines that allow insiders to unload shares when certain predetermined conditions are met, which prevents them from acting on non-public information.
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Source Fool.com
