Palantir Technologies, a key holding of the GraniteShares 2x Long PLTR Daily ETF, is experiencing notable market activity on January 2, 2025. Despite recent positive developments, including Palantir's addition to the Nasdaq 100 and a significant contract win with the Army Vantage program, the stock is facing downward pressure. This comes amid broader market caution following two consecutive years of 20% gains in the S&P 500, as highlighted by RIA Advisors. The market's recent weakness, particularly in breadth and momentum, has led to a subdued year-end performance, raising concerns about the sustainability of last year's high-flying stocks like Palantir.
The GraniteShares 2x Long PLTR Daily ETF (PTIR) is currently priced at $128.50, reflecting a 2.04% decrease from its previous close.