It can be so hard to convince yourself to take some profits off of your portfolio's most prominent winners.
Palantir Technologies Inc PLTR has witnessed a big surge in market value, adding over $23 billion since Donald Trump's victory in the 2024 Presidential election.
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Palantir's (NYSE: PLTR) 2024 rally, which has seen the stock surge over 260% year-to-date, is likely to have a catastrophic end, according to an expert's outlook.
Thus far, 2024 has been the year of AI — and although stock market darling and semiconductor leader Nvidia (NASDAQ: NVDA) has been the most publicized winner of this new industry's rapid rise, big data analytics company Palantir (NYSE: PLTR) could secure better yearly returns.
Cathie Wood of Ark Invest has been selling Palantir stock, despite it being the best-performing stock in the S&P 500 this year.
Palantir's robust FQ3'24 performance and raised FY2024 guidance further underscore its growing moat in the US government along with increased mindshare in the commercial sector. The stock's outperformance continues to demonstrate an impressive bullish support from its investors, as it charted new heights beyond historical levels. PLTR is no longer trading within reasonable valuations/ fundamentals for investors seeking long-term capital appreciation, worsened by a highly risky momentum investing strategy.
Jeff McClean, CEO of Solidarity Wealth, expects market volatility from geopolitical tensions, favors Palantir over traditional defense stocks, downplays Google antitrust risks, and recommends the IJR ETF for resilient small caps.
Englander's Millennium Management sold close to 4.5 million shares of Palantir and practically tripled its stake in a high-octane electric-vehicle (EV) company in the September-ended quarter.