Palantir Technologies sales growth accelerated 49 percent in the first half of 2020, and the loss fell significantly. For 2020 as a whole, Palantir expects sales to grow between 41 and 43 percent to just over a billion dollars.
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The data analysis company, which went public on NYSE on Wednesday , started as planned with a price of $10 and market cap of nearly $22 billion, which means a gain of 38 percent compared to the reference price of $7.25 set by the New York Stock Exchange on Tuesday. By close of trading, it was down 5 percent to $ 9.50 – still above September’s averaged over-the-counter sales of $ 9.17.
On Thursday the story is similar and PLTR stock price is down again. Going public is almost always a money grab, but in this case PLTR decided to go with a direct listing. Seems as if Palantir boss Alex Karp could not care less about the stock price. He wasn’t even in New York for the long-awaited stock market launch of the big data analysis company founded 17 years ago in Silicon Valley. Maybe he knows that his company has no competitors and the share price will soon rebound.
Palantir’s COO, Shyam Sankar, told Yahoo Finance that the coronavirus crisis had accelerated business. For example, the company has developed a platform for CDC with which its employees can monitor relevant data on the spread of the coronavirus in the USA .