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CNBC’s “Mad Money” host Jim Cramer has given a thumbs up to Palantir Technologies Inc. (NYSE:PLTR), sparking interest among investors.
What Happened: Cramer advised viewers to consider purchasing stock in Palantir on Thursday’s episode of CNBC’s Lightning Round. The data analytics company has been a topic of discussion among investors seeking potential growth opportunities.
“Make a move and buy some,” he said.
Cramer’s recommendation comes as Palantir’s stock has seen varying levels of performance in the market. His endorsement is a notable mention for investors who follow his insights for investment strategies.
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Why It Matters: Palantir, known for its specialized data analysis software used by government agencies and large corporations, has been under investors’ radar for its growth potential and innovative technology solutions.
Palantir has recently secured a substantial contract with the U.S. Army valued at $178 million, emphasizing its expanding role in artificial intelligence and data analytics. This deal underlines the company’s growing footprint in the defense sector and its potential for increased revenue streams.
Moreover, on April 11, Cathie Wood‘s Ark Invest made headlines by selling over $20 million in Coinbase shares and purchasing Palantir stock.
As of Thursday, Palantir’s stock price closed at 22.84, a slight increase of 1.87% from its previous close. With a 52-week high of $27.50 and a low of $7.28, the company’s shares reflect a significant range of trading activity over the past year.
Photo by Spyro the Dragon on Shutterstock
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Posted In: PLTR
