Palantir Stock, IBD Stock Of The Day, Claws Back As Other Top Software IPOs Struggle
Palantir TechnologiesClA
Industry Group Ranking
* Not real-time data. All data shown was captured at 1:45PM EST on 01/22/2021.
Palantir Technologies (PLTR) marked one of last year's biggest initial public offerings among software companies with C3.ai and Snowflake stock among them. Now Palantir stock is the IBD Stock of the Day as the provider of data analytics software becomes actionable after reversing a downward trend.
Palantir, Snowflake (SNOW) and C3.ai (AI) are three software growth stocks that corrected in late 2020 as some analysts questioned high valuations following their big IPOs. But Palantir stock has clawed back.
Palantir now boasts a Relative Strength Rating of 96 out of a possible 99. Meanwhile, Snowflake stock holds an RS Rating of only 23. And C3.ai owns an RS Rating of 83.
A direct listing of Palantir stock was launched on Sept. 30 priced at 7.25 a share. In a traditional IPO, companies create new shares, underwrite them and sell them to the public. A direct listing creates no new shares and sells only existing, outstanding shares with no underwriters involved.
Palantir formed an IPO base shortly after the direct listing.
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