Is Palantir a Millionaire-Maker Stock After Its Rally?
The stock has jumped more than 60% over three months.
Overview
Palantir Technologies (NASDAQ: PLTR) has been a winner for investors who bought the stock early in -- or prior to -- the artificial intelligence (AI) boom. The company offers government and commercial customers the ability to, through its software, immediately apply the power of AI to their needs. And they've flocked to this offering, sending revenue soaring in the triple digits.
As a result, investors piled into the stock, and it rose more than 1,200% in three years. Over the past year, Palantir's momentum slowed -- from a stock performance perspective -- even as earnings marched higher. This happened amid various headwinds for AI stocks, from concerns about tech companies potentially overinvesting in infrastructure to worries about the general economic environment.
Details
But, in recent times, Palantir stock has recovered its momentum, rising more than 60% over the past three months. Is this hot AI stock a millionaire-maker after its rally? Let's find out.
Source
Originally published at www.fool.com.