Palantir's Stock Is Set Up For A Great Year Says Guy Adami

Palantir Technologies Inc PLTR is poised to have a great 2021, Fast Money trader Guy Adami said Thursday on CNBC's "The Exchange." The stock had a huge move to the upside and then retraced the entire move, Adami said.

Palantir was the first name he mentioned when previewing his top picks for CNBC's "Stock Draft."

Upcoming Earnings: Palantir announced on Tuesday it will report first-quarter financial results on May 11 before the market opens. 

See also: How to Buy Palantir Technologies (PLTR) Stock

Price History: Palantir went public on the New York Stock Exchange on Sept. 29 via a direct listing. Since going public, shares of the data analytics company have traded as high as $45 and as low as $8.90.

Palantir is down 0.38% year-to-date.

At last check Thursday afternoon, the stock was down 2.01% at $23.37.

(Photo from Cory Doctorow via Flickr)