What's Going On With Palantir Stock?

Palantir Technologies, Inc. PLTR shares are trading flat Tuesday. The company announced a contract extension with the U.S. Army last Friday.

What To Know:

Palantir announced the extension of its partnership with the U.S. Army's Program Executive Office for Enterprise Information Systems (PEO EIS) to continue operating the Army Vantage data-driven operations and decision-making platform on Friday. The contract is a one-year extension of an on-going partnership, and the total contract value, inclusive of options, is $115.04 million, with $97.35 million awarded and initial funding obligated in the amount of $35.6 million.

On Dec. 7, Ark Invest purchased a total of 1,578,738 Palantir shares through ARK Innovation ETF ARKK, ARK Next Generation Internet ETF ARKW, and Ark Fintech Innovation ETF ARKF. The transaction was valued at $27.04 million.

According to data from Benzinga Pro, Palantir shares are trading near the stock's 52-week high of $21.85, and 6.37% of available shares are being sold short.

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PLTR Price Action: According to Benzinga Pro, Palantir Technologies shares are up  by 0.70% at $17.97 at the time of publication.

Image: Gerd Altmann from Pixabay