Why Palantir Stock Popped Today
Shares of Palantir Technologies (NYSE: PLTR) climbed nearly 7% on Thursday, as the data analytics company's stock price recovered from the drubbing it took earlier in the week. Palantir plunged on Wednesday after Morgan Stanley analyst Keith Weiss cut his rating on its stock from equal weight to underweight and assigned a $17 price forecast on its shares. Weiss argued that with Palantir's stock up sharply from its public offering price of $7.25 in September, the risk-to-reward trade-off for investors was "decidedly negative."
