The post If you invested $1k in Palantir at start of 2024; you’d now have this much appeared on BitcoinEthereumNews.com.

Though somewhat overlooked in the first half of 2024 due to the then-superior performance of stocks like Nvidia (NASDAQ: NVDA) and Supermicro (NASDAQ: SMCI), Palantir (NYSE: PLTR) has turned into one of the best investments of the year. Specifically, if an investor purchased $1,000 worth of PLTR shares on January 2 – the first session after the New Year – they would have seen their money grow to $2,439.69, meaning they’d have earned $1,439.69. Such a rise is the result of Palantir’s strong stock market performance throughout 2024, and particularly since early June. In fact, PLTR shares are up 143.72% in the year-to-date (YTD) chart and Palantir price today, at press time on October 8, stands at $40.45. PLTR stock YTD price chart. Source: Finbold Why PLTR stock is up 140% in 2024 The stellar performance can be attributed to several factors, including Palantir’s involvement in the ongoing artificial intelligence (AI) boom, particularly through a string of partnerships. These, for example, include the deals made with Edgescale AI to launch Live Edge and contracts granted by the U.S. armed forces. More recently, the rally was invigorated by PLTR stock’s inclusion in the important S&P 500 index, signaling that the firm has truly become one of the benchmark American corporations. Palantir shares benefited from the inclusion thanks both to the increased visibility and prominence that comes with the listing, and the rise in confidence as the firm became one of the traditional measurements of the health of the U.S. economy. Is the Palantir stock rally sustainable? Still, the rise has not been entirely secure. September, in particular, gave rise to some anxiety as there was a notable uptick in PLTR stock sales executed by company insiders.  Of these, trades made by Peter Thiel and CEO Alex Karp proved particularly large, and…

---

Filed under: News - @ October 8, 2024 4:23 pm