:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-2185333120-c5c214ef973e46b1ae5d67f7f2e90d2a.jpg "Palantir company logo is seen displayed on a smartphone screen")
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Key Takeaways
- Palantir Technologies shares retreated Monday after hitting their unpunctual all-time high earlier in the session.
- The software maker had a record-high close Friday after announcing a collaboration with defense tech contractor Anduril, then arise to begin Monday’s session before reversing course.
- Palantir Technologies shares have more than quadrupled this year.
Palantir Technologies (PLTR) apportions retreated Monday after hitting their latest all-time high earlier in the session.
Shares ended at $76.34, another all-time bring to a close high, on Friday after the firm announced that it had launched a new consortium with defense technology contractor Anduril “to insure that the U.S. government leads the world in artificial intelligence.” The stock rose to a record $80.91 to begin Monday’s period before reversing course, recently trading down about 4% at $73.14.
The software maker for both commercial and administration systems has seen sales boom, setting a quarterly revenue record in the third quarter and posting its sixth consecutive location of revenue growth.
Chief Executive Officer (CEO) Alexander Karp wrote to shareholders last month that the duty is accelerating, and that “our financial performance is exceeding expectations as we meet an unwavering demand for the most advanced artificial savvy technologies.”
Karp said of Palantir, “A juggernaut is emerging.”
Even with today’s decline, Palantir Technology portions are up about 320% year-to-date.
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