What's Going On With Palantir Technologies Stock Wednesday?

Palantir Technologies, Inc. PLTR shares are trading higher Wednesday. The stock has gained more than 34% over the past month.

What To Know:

Palantir shares set a new 52-week high of $21.85 last Monday amid increased interest in the AI sector following a weekend filled with corporate developments involving Sam Altman, the CEO of OpenAI, its board of directors and Microsoft Corporation MSFT.

Deepwater Asset Management's Gene Munster recently mentioned Palantir on CNBC's "Squawk Box" as a company that is undervalued and positioned to continue to ride the current artificial intelligence wave higher.

Munster also listed Palantir as one of several companies including CrowdStrike Holdings, Inc. CRWD and Etsy, Inc. ETSY with a "2x or 3x upside opportunity over the next year."

PLTR shares are trading above the stock's 50-day moving average of $17.17 and just below its 52-week high of $21.85.

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PLTR Price Action: According to Benzinga Pro, Palantir Technologies shares are up  by 1.47% at $20.00 at the time of publication.

Image: Gerd Altman from Pixabay