Why Palantir Surged More Than 20% This Week
Shares of software company Palantir Technologies (NYSE: PLTR) surged this week, defying an otherwise tough week for stocks, with shares up 22.5% as of 3:08 p.m. EDT Friday, according to data from S&P Global Market Intelligence.
The big data software pioneer reported earnings on Monday, February 13, delivering a strong beat -- especially on the bottom line.
Given that investors have been wringing their hands over the ultimate profitability of software stocks in general and that Palantir had previously forecast it wouldn't be profitable until 2025, the company's delivering net profits on a GAAP basis was certainly something to cheer.
Source Fool.com
