Why Palantir Stock Is Skyrocketing Today
Is Palantir becoming a hot stock again?
Overview
Palantir (NASDAQ: PLTR) stock is seeing strong bullish momentum in Wednesday's trading. The artificial intelligence leader's share price was up 9% as of 11:35 a.m. ET. At the same point in the daily session, the S&P 500 was up 0.3%. Meanwhile, the Nasdaq Composite was flat.
Palantir's valuation is moving higher today as investors have continued to rotate back into AI software stocks. The company's recent announcement of a new partnership with Nvidia and news that Michael Burry has reduced his short position on the stock are also factoring into today's gains.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.