Palantir Starting To Emerge
Palantir, $PLTR, broke out today with volume coming in. There are a few things I really like about this stock. First, after its' IPO in 2020, Palantir has continued to produce strong earnings and sales growth. In addition, the number of funds owning PLTR has grown from 84 to 515 over the last year! Something clearly is going on that is leading all of these funds to decide to own Palantir.
Its' chart also looks fantastic. After a huge move in 2020 off its' IPO, PLTR has been basing throughout 2021. It had some constructive bottoming action this summer, with a heavy volume hammer week in mid-May followed by some tight action in July around the $21 level. I originally bought PLTR in late August and added to my position this week as it started to emerge on volume.
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Full Disclosure: I currently own Palantir (PLTR).
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