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After gaining momentum and later declining in price in the last couple of months due to the AI-related rally, Palantir's (NASDAQ:PLTR) stock is once again on a winning streak as it reached new 52-week highs
Palantir: Time To Double Down
Summary
- Palantir is expected to reveal its Q2 earnings results in early August.
- After Palantir’s stock aggressively appreciated due to the AI-related rally, the management would now need to convince the street why this rally has more legs to justify the current valuation.
- While there are some major risks associated with investing in the company’s stock at the current levels, there are reasons to believe that there’s still some upside left.
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Analyst’s Disclosure:I/we have a beneficial long position in the shares of PLTR either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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