Palantir ends the day at 52-week highs.
This was quite the surprise. Palantir ends up 15% after being up 8% yesterday, closing in on 40% for the month. I personally don’t think this holds up as strong as it is, but there may be a new floor developing for the stock. It could stabilize around the 9-11 range vs. 7-8 which would be great news for shareholders. Volume was 115M today compared to an average of 37M, so it looks like some big guys were coming in and snagging up shares to create that level of buying pressure on the company. I did a 2HR live on YouTube discussing all the events with my friend Sachin who broke down some technicals and his ability to remain convicted within the stock here.
Why Cathie Is Buying
Cathie Wood has once again purchased shares of Palantir. In this video - I dive deeper into why ARK has a thesis on Palantir, AI, and how the company’s financials have likely gotten to the point where it would make less sense to not buy. You can watch it here.
The Palantir Community Is Special Right Now
I did a video today on why this is one of the best moments to be an investor within the Palantir community. The premise of my argument was that the community is small and intimate currently, everyone basically knows each other. But that won’t always be the case — eventually the company will gain more attention, more people will want to cover the stock, and the noise will begin filling into the ecosystem of Palantir. When that happens, the community will be larger, but it won’t be the same. There are very few internet communities that actually have longevity behind them, and to be in the Palantir community right now as we are fighting back to gain momentum within the stock but also the trajectory of the company, feels like a moment that should be cherished and cared about more deeply given how it will inevitably change.
New Alex Karp Interview
Alex Karp spoke at a conference in Spain - you can watch it here. I argued that this was one of his most ballsy interviews yet, and it doesn’t seem like he’s playing around as he speaks on Palantir’s potential.
That’s all for today - if you’d like to support the newsletter, you can join the Patreon here for $5 a month. See you tomorrow!