2024 has been a milestone year for data analytics company Palantir Technologies (NYSE: PLTR). Perhaps most important event for the company was its addition to the S&P 500 earlier this year — an achievement few thought was possible just four years ago when Palantir went public and was quickly written off as a glorified government contracting and consulting operation with no real technology capabilities.
That narrative has come to an end. Over the last couple of years, Palantir has entered a new phase of growth thanks to the company’s successful launch of a new software suite called the Artificial Intelligence Platform (AIP).
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All of these factors have contributed to notable interest in Palantir stock over the last several months. At the time of this writing, shares of Palantir have gained 283% year to date. With the stock hovering around an all-time high valuation, can it possibly keep climbing higher?
In my eyes, I think Palantir stock is set to continue running. Below, I’ll break down the company’s latest announcement and point to why investors should have their eyes on Palantir stock on Nov. 26.
One thing that often goes overlooked with stocks is the exchange that they trade on. But, believe it or not, trading on the New York Stock Exchange (NYSE) versus the Nasdaq Stock Market can actually have some pretty big implications for a company.
A few days ago, Palantir announced that it is moving its listing from the NYSE to the Nasdaq. Shares of Palantir are expected to begin trading on the Nasdaq on Nov. 26.
On the surface, this may seem like mundane news. But below I’m going to break down a number of examples of other companies that have switched to the Nasdaq and illustrate how their share prices moved following the transition.
Image source: Getty Images.
Below, I’ve outlined two companies that have moved from their original stock exchange to the Nasdaq in recent years.
Workday: On Sept. 1, 2017, software company Workday announced…
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