What Makes This Trade Great: Palantir ($PLTR) Hits All-Time High

What Makes This Trade Great: Palantir ($PLTR) Hits All-Time High

Nov 5, 2024

Hello, everyone! Barrie Einarson here with today’s “What Makes This Trade Great.” Let’s talk about Palantir, ticker symbol $PLTR, which has caught a lot of attention with today’s all-time high after its earnings report. To Subscribe: https://go.trade-ideas.com/SHQ
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Palantir’s Impressive Climb

Palantir has been one to watch, especially with today’s earnings release that placed a strong emphasis on AI. The market took notice, and we saw $PLTR reach an all-time high of $50. Now, looking back, it’s hard to believe this was once trading around $5.90—a significant rise over a relatively short period, showing the influence of strategic direction and earnings momentum.

Why Traders Are Watching $PLTR

Today’s movement could be the start of a continued rally, especially with so many traders following Palantir. In cases like this, it’s essential to watch for a possible 2nd, 3rd, or even 4th day of strength following the earnings beat. The multi-day momentum could create excellent trading opportunities.

Key Takeaways

For those trading or watching Palantir, this is definitely one to keep on your radar over the next few days. Today’s high is impressive, but it might just be the beginning if the momentum holds.

Thanks for tuning in—catch you in the trading room tomorrow!