We're Making a Move With Palantir, Buying Additional Shares
Here's why we like the stock's behavior today, but will leave room to opportunistically add more shares down the road.
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| Symbol | Transaction Type | # Shares Traded | Recent Price $ | Shares Owned After Trade | % Portfolio |
|---|---|---|---|---|---|
PLTR | Buy | 208 | 154 | 1,030 | 3.0 |
After you receive this Alert, we will buy 208 shares of Palantir Technologies PLTR at or near $154. Following the trade, PLTR shares will account for roughly 3.0% of the Pro Portfolio.
Following our game plan for PLTR shares discussed yesterday, we are pulling the trigger and adding to the Pro Portfolio’s position. We will continue to watch key technical support levels, but with the stock having moved below support at the 50-day moving average ($152.63) and recovered, we’re inclined to make our move. Or at least a partial one, given our PLTR position size after the trade leaves room for further opportunistic purchases should they present themselves.
Given the upside to our $200 price target, we will also upgrade PLTR shares to a One rating from Two. As we move through the upcoming set of investor conferences, we will mindful of comments about AI adoption as it relates to Palantir but also ServiceNow NOW.
(Please note that we are looking to execute these trades at or near the share price mentioned above. Once the trade is completed, subscribers can see the trade's executed price here. Be sure to toggle the chart to sort by Purchase Date.)
At the time of publication, TheStreet Pro Portfolio was long PLTR.
