Why Palantir Technologies Hit a New All-Time High on Wednesday
One analyst on Wall Street is (reluctantly) updating his model.
Palantir Technologies (NASDAQ: PLTR) stock continued its epic run on Wednesday, climbing as much as 5.4%. As of 3:37 p.m. ET, the stock was still up 3%.
The artificial intelligence (AI) software and data mining specialist has climbed to new heights several times in recent weeks, with its stock notching a new all-time high on Wednesday. That puts the stock up more than 80% so far this year. The catalyst behind today's move was a reluctant nod from a Wall Street analyst.
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