Palantir Surges Nearly 5% Premarket: What's Driving The Stock?

Shares of data analytics platform provider Palantir Technologies, Inc. PLTR rose in premarket trading on Monday.

If the premarket gains sustain, the stock could be on track for a positive performance for a second straight session.

On Friday, Palantir rallied over 10% after Wedbush analyst Daniel Ives initiated coverage of the stock, calling the company the “Messi of AI.”

The company is in the "early innings on a sum-of-the-parts AI story just on the cusp of monetizing this massive green field AI opportunity,” Ives said. The stock settled Friday’s session at the highest level since Jan. 2022.

The upward momentum could carry the stock through the session as traders begin to acknowledge the company as a legitimate AI play.

In pre-market, the stock rose 4.83% to $18.67, according to Benzinga Pro data.

See Also: Best Artificial Intelligence Stocks

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