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RE: LeoThread 2024-11-16 03:13

in LeoFinance11 months ago

Palantir jumps 11% to a record after announcing move to Nasdaq

Palantir's stock has been on a tear since the company's better-than-expected earnings report last week, which was a day before the U.S. presidential election.

Palantir shares continued their torrid run on Friday, soaring 11% to a record, after the developer of software for the military announced plans to transfer its listing to the Nasdaq from the New York Stock Exchange.

The stock jumped past $65.77 at the close, lifting the company's market cap to $150 billion. The shares are now up more than 45% since Palantir's better-than-expected earnings report last week and have almost quadrupled in value this year.

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Palantir said late Thursday that it expects to begin trading on the Nasdaq on Nov. 26, under its existing ticker symbol "PLTR." While changing listing sites does nothing to alter a company's fundamentals, board member Alexander Moore, a partner at venture firm 8VC, suggested in a post on social media site X that the move could be a win for retail investors because "it will force" billions of dollars in purchases by exchange-traded funds.