What's Going On With Palantir Stock?

Palantir Technologies, Inc. PLTR shares are trading higher amid overall market strength on Monday, and the stock is trending on social media. Here’s a look at what’s going on.

What To Know:

Palantir shares are climbing as the broader market rallies after the S&P 500 closed at a new all-time high on Friday.

Palantir hosted its most recent board meeting in Tel Aviv, Israel to show support and solidarity with Israel as the country continues military operations against Hamas. The company has also entered into a partnership with the Israeli military to provide technological support to its war efforts.

"This strategic partnership aims to significantly aid the Israeli Ministry of Defense in addressing the current situation in Israel," Executive Vice President of Palanitr, Josh Harris told Bloomberg.

Palantir shares are climbing on heavy trading volume Monday with more than half of the stock’s average volume already traded in the session. According to data from Benzinga Pro, more than 30.4 million shares have been traded, compared to the stock’s 100-day average volume of 57.347 million shares.

Palantir is set to report its fourth-quarter financial results after the market close on February 5 and will host a webcast to discuss the results at 5:00 p.m. ET the same day. According to estimates from Benzinga Pro, the company is expected to report earnings of 8 cents per share and quarterly revenue of $602.554 million.

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PLTR Price Action: According to Benzinga Pro, Palantir Technologies shares are up 9.2% at $18.33 at the time of publication.

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