Tech

PLTR Stock is a Covid-19 play you didn’t expect

Palantir Technologies (NYSE:PLTR) Is a company that not everyone understands, including those who trade PLTR shares. You can label your company as a big data analytics company, but that’s not the complete story.

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Palantir Reddit A crowd of short squeeze. As a result, there is no emphasis on what the company is actually doing.

I think it’s a shame because I believe in the old saying, “I know what I have.” The possibility of short squeeze is an important factor for traders, but it should not be an obsession.

And yes, it’s true that Palantir provided US government agencies with information focused on counterterrorism. But if you take a closer look, you may be surprised at how diversified Palantir’s business really is.

Details of PLTR stock

PLTR has a short but action-packed history.Back to the beginning, inventory Started trading at New York Stock Exchange Listed directly on September 30, 2020.

The Bulls got off to a good start as they raised Palantir’s share price to $ 27 in November. However, inventories were flat for the rest of 2020.

Things got busy again in the New Year, with PLTR shares soaring to $ 45 in January 2021. The fair question was, was this the handiwork of a Reddit meme stock trader?

That’s certainly possible, as early 2021 was a time when r / WallStreetBets users were pushing various stocks to breathtaking heights. However, we cannot prove or disprove that they are specifically targeting Palantir.

In any case, those who bought more than $ 30 in PLTR shares were punished over the next few months. As of July 27, stock prices had fallen to $ 22 and remained flat.

As an additional point, Palantir’s earnings per share over the last 12 months is -96 cents.

This isn’t a serious negative, but it’s nice to see Palantir quickly put profits per share into the positive territory.

Supporting the fight against Covid-19

So this is something you might not have expected. Palantir is playing a role in combating the Covid-19 epidemic.

look? He said the company is surprisingly diversified. But don’t get me wrong. Palantir does not manufacture vaccines or the like.

The company reportedly 1 year contract renewal To support the US Department of Health and Human Services.

Palantir provides a software platform for multiple purposes: “Supporting the management of the US COVID-19 vaccine distribution strategy, enabling international distribution, and improving the fairness and effectiveness of vaccine programs.” increase.

The Covid-19 Delta variant strain is currently threatening the health of the world’s population, so timing can never be better.

In total, Palantir has played a role in supporting more than 100 organizations in responding to the Covid-19 pandemic.

Make air travel safer

Check this out if you need more evidence that Palantir isn’t completely focused on counterterrorism software.

Not long ago, the Federal Aviation Administration (FAA) Contract with Palantir “Provides data analysis tools to help advance government modernization goals for aviation safety.”

This is a very lucrative one-year contract with two additional years of options and is worth up to $ 18.4 million.

Palantir’s role is to support FAA’s aircraft certification and ongoing operational safety activities. This includes continuous monitoring of service resumption of the 737 MAX fleet.

And hopefully, with Palantir’s help, FAA’s aerospace engineers and analysts will be able to monitor, analyze and share aviation safety data, thereby assessing safety risks.

Conclusion

PLTR stocks are not a perfect investment as price behavior has not been recently stimulated.

Still, the company generates capital from contracts with powerful institutions.

And as Palantir expands its business and helps address the Covid-19 crisis, investors should be more interested than ever.

Publication date, David Moadel The securities listed in this article did not have a position (directly or indirectly). The opinions expressed in this article are those of the writers covered by InvestorPlace.com. Public guidelines..

PLTR Stock is a Covid-19 play you didn’t expect

Source link PLTR Stock is a Covid-19 play you didn’t expect

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