If You'd Put $10,000 in Palantir at Its IPO, Here's What You'd Have Now -- Even After a 37% Drop
The recent sell-off stings a lot less when the cost basis is $10 a share.
Overview
Palantir Technologies (NASDAQ: PLTR) went public on Sept. 30, 2020, through a direct listing -- no underwriters, no offering price, just an opening trade of $10 per share, well above the $7.25 reference price the New York Stock Exchange had set. A $10,000 investment at that first trade bought 1,000 shares.
Those shares are worth about $132,000 today, with the stock trading near $132 as of this writing. That's about 13 times the original stake in just under six years. And it counts the damage from the AI sell-off, which has knocked the stock down roughly 37% from its 52-week high of $207.52.
Details
At that high, the same stake was worth more than $207,000. Even after giving a chunk of that back, the return works out to a compound annual growth rate of about 56%. I can't think of many large companies that have come close over the same stretch.
Source
Originally published at www.fool.com.
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