PLTR, expect new SERIES OF HIGHS in the next coming months!PLTR Growth Momentum hasn't waned a tiny bit. The stock keeps ranging at the 52 wk high most of the time suggesting an "Alpha" stock characteristic. Yesterday's price movement was another testament of buyer's weighty positioning of this soon-to-be-massive-valuation stock. It is named the future MSFT of today's era.
The recent price growth (+6% yesterday's session) was augmented by another good news:
Palantir (NYSE:PLTR) recently acquired about 6 million more shares of Rubicon Technologies (NYSE:RBT), bringing its stake in the firm to 6.2%. Palantir’s purchase of the shares appears to have been required by a deal that the company signed with Rubicon last year. As of this writing, PLTR stock is up by about 5%.
Palantir creates and markets data analysis tools. Meanwhile, Rubicon operates “a digital marketplace for waste and recycling service.” Rubicon is also one of Palantir’s customers.
In our monthly chart, Histogram is recording 5 straight months of ascend -- talk about 'value' strength of this stock. On tri-monthly data, the elusive bottom line shift has appeared after 3 years. This is already a huge hint of the momentum going upside. Net buy volume has surged an impressive 20+ % and it continues to grow on a weekly basis.
Coming QTR2 earnings (Aug. 2023) results is expected to come in 'green' at $536M.
Expect more significant price growth for PLTR. And it's not all hype, there is meat into it.
At current valuation, it is still a bargain in my opinion. A 3-digit valuation in the future will not be farfetched based on metrics and progressive developments on the company.
Spotted at 17.00
TAYOR
Safeguard capital always.
