Palantir Technologies is experiencing a surge in investor interest, driven by significant institutional investments and the ongoing momentum in AI stocks. Franchise Capital Ltd's recent acquisition of a new stake in Palantir Technologies, valued at approximately $3.6 million, highlights the growing confidence in the company's future prospects. This move is part of a broader trend, with major institutional investors like State Street Corp and Geode Capital Management significantly increasing their holdings in Palantir during the third quarter. The company's strong position in the AI sector, alongside Nvidia, has been a key driver of its stock performance, contributing to the broader bull run in the US stock market over the past two years.
The GraniteShares 2x Long PLTR Daily ETF (PTIR) rose to $137.86, marking a 6.39% increase as of 10:30 AM ET on January 3rd.