Is Palantir Stock Too Expensive at $43?
Data analytics software company Palantir Technologies (NYSE: PLTR) has experienced a lot of ups and downs since going public in late 2020. Shortly after its IPO, Ark Invest CEO Cathie Wood frequently tuned into financial news programs touting Palantir's potential. Unsurprisingly, the stock soared.
But this rise to the top of the software arena was short-lived. The next couple of years proved tough for Palantir, as enterprise software in general witnessed declining growth on the backdrop of a troubled economy. By the beginning of 2023, Palantir's stock price was a mere $6.
However, the technology sector has witnessed a sharp bounce back over the last year and a half due to rising interest in artificial intelligence (AI). Palantir has been a beneficiary of AI tailwinds, and investors are rejuvenating the stock. Since Jan. 1, 2023, shares of Palantir have rocketed by 575%.
Source Fool.com
