PLTR Stock News: Palantir Technologies rides higher on momentum from US Army contract

NYSE: PLTR gained 1.59% during Wednesday’s trading session.
Palantir carries over momentum from after hours contract announcement.
Palantir reports the next generation of companies using Foundry for Builders.

Stocks Reporter FXStreet

NYSE:PLTR rose again on Wednesday amidst a rollercoaster of a session that saw the Dow Jones recover from a 450 point loss to a 100 point gain by the closing bell. Shares of Palantir climbed by 1.59% and closed the trading session at $23.58. The S&P 500 and NASDAQ both recovered as well with the major indices closing the day up by 0.4% respectively. To say it has been a volatile week is putting it lightly, but a temporary debt-ceiling extension from Senate GOP leader Mitch McConnell was enough to send the markets to the moon after reeling for most of the morning.

Stay up to speed with hot stocks' news!

Palantir was moving higher in pre-market trading as well so the extra boost it was given provided another nice gain for the data analytics company. The stock carried over its momentum from after hours on Tuesday when the company announced that it had secured a massive $823 million contract to modernize the U.S. Army’s intelligence programs. The late breaking news on Tuesday saw shares jump by over 13% in extended trading hours, and investors were still buying up Palantir into Wednesday’s session. The contract marks some positive news for Palantir after losing a couple of high profile contracts in recent months.

PLTR stock forecast

On Wednesday, Palantir also announced the next cohort of start up companies that will be using the Foundry for Builders platform. The list includes ten brand new companies that will be utilizing the Foundry system to analyze data sets in accredited environments. Palantir initiated the Foundry for Builders platform earlier this year, and has been dedicated to helping new companies grow into potential partnerships for the future.

Premium

You have reached your limit of 3 free articles for this month.

Start your subscription and get access to all our original articles.

Subscribe to Premium Sign In

Author

Stocks Reporter

FXStreet

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.