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Why Palantir Stock Is Soaring Today

TheMotleyFool

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Why Palantir Stock Is Soaring Today: https://g.foolcdn.com/editorial/images/872074/gettyimages-1366942177-copy.jpg

Palantir (NASDAQ: PLTR) stock is bounding higher in Thursday's trading. The tech company's share price was up 7.9% as of 3:30 p.m. ET amid a 0.5% gain for the S 500 and a 0.8% gain for the Nasdaq Composite.

While bullish momentum for the broader market is likely playing a role in sending Palantir's share price higher, defense industry news is also helping to support gains for the company's valuation. Even though the stock is seeing a big pop today, its share price is still down roughly 20% year to date.

Image source: Getty Images.

Source Fool.com

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