Palantir Technologies (PLTR) Stock Hits A New All-Time High: What's Going On?

Shares of Palantir Technologies Inc (NASDAQ:PLTR) are climbing on Monday, continuing last week’s rally. The data analytics firm is benefiting from a confluence of positive news that has bolstered investor confidence, sending the stock to another new all-time high Monday.

What To Know: Palantir last week announced a partnership with specialty paper manufacturer Fedrigoni to advance its digital transformation using Palantir's AI platform. This news, coupled with last month’s strong earnings report showing a 39% year-over-year increase in its customer count and raised full-year guidance, are among several recent catalysts helping propel the stock to new highs.

Palantir also continues to catch the eye of Wall Street, with Bank of America strategist Michael Hartnett spotlighting the company in his ‘bro billionaire’ basket of elite tech performers.

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Further tailwinds have emerged as geopolitical tensions rose last week, with Israel-Iran tensions increasing interest in defense-related equities. Palantir, a key software provider for U.S. military and intelligence agencies, is often seen as a beneficiary of increased government spending on security.

Adding to the momentum, U.S. Immigration and Customs Enforcement has also announced its intent to expand its use of blockchain surveillance tools, a sector where Palantir is an established vendor.

Price Action: According to data from Benzinga Pro, Palantir was trading at $142.22, up 3.52% on Monday. Trading volume was active, with over 28 million shares exchanged early Monday. The stock’s 52-week range is $21.23 to $144.86.

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How To Buy PLTR Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Palantir Technologies’ case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

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