On 5 April 2021, Palantir Technologies announced that it has been awarded a 5-year contract, valued up to $89.9 million by the United State National Nuclear Security Administration (NNSA). As part of this contract, Palantir will serve as a platform for NNSA to manage nuclear security by optimizing its human and financial allocation through the integration of data.
This news initially sent Palantir shares up 5% the following Monday but the gain was short-lived and faded nearer to closing. This is not the first time Palantir’s share price has moved so sharply. Since the company went public in Sept 2020 the stock has surged over 140%.
So, what is driving this movement in share price? Is it base on fundamentals or purely on emotion? To end it off, does Palantir still have room to grow?
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