The Top 7 Moments for Palantir in 2024

The Newsletter is Back for 2025!

Hello everyone!

Happy New Year. I hope everyone got some time to relax and enjoy over the holidays. i know the newsletter stopped posting around October — I had traveled to India, come back from India, and then we got into the holiday season with a bit more traveling. Daily Palantir is now back for 2025 and should be good to go daily.

There has been PLENTY that happened in 2024 and more to cover in 2025 so this newsletter will aim to operate Monday-Thursday, highlighting the key news around Palantir every single day in 2025.

Having said that, let’s start off the new year with diving into the top 7 moments of Palantir’s 2024…

Palantir’s Top 7 Moments of 2024

As 2024 comes to a close, we all witnessed Palantir achieving remarkable milestones that have captivated investors and market watchers alike. It’s safe to say that most people did not expect what happened. Palantir was the best performing stock in the S&P 500 in 2024.

1. Joining the S&P 500

Palantir’s induction into the S&P 500 was a milestone for the company and the retail investing landscape. The company’s inclusion in September 2024 came at a time when industry experts questioned if Palantir could be considered among America’s largest firms. Analysts and investors monitored closely as Palantir, once uncertain about going public, now stood among established giants. This move indicated that the firm’s data analytics and government contracting focus had gained mainstream acceptance.

The effect on Palantir’s stock was immediate, as after inclusion, Palantir began a run to $80 from $29.5. This outcome was driven by increased institutional interest. The S&P 500 committee’s decision to include Palantir prompted major funds to add the stock to their portfolios, improving liquidity and driving up share prices. The inflow of capital from these funds has provided resources for future growth initiatives.

For shareholders, the moment carried more than financial implications. Community members and employees experienced a mix of relief and enthusiasm. Fans on live streams celebrated when a viewer using a Bloomberg terminal confirmed the inclusion with a screenshot in the chat. This event underscored the combination of grassroots support and institutional validation that helped carry Palantir to this point, setting high expectations for the company’s future.

2. Transition to NASDAQ

Palantir’s move from the New York Stock Exchange to NASDAQ was a strategic decision aimed at aligning with a technology-focused market. The transition, announced in late October or early November, was timed with expectations of market rebounds and aimed to boost the company's profile among investors focused on tech stocks. The change signaled Palantir's intention to position itself among established tech firms and take advantage of NASDAQ’s investor base.

The listing change had direct effects on Palantir’s visibility and stock liquidity. As part of the NASDAQ 100, Palantir became eligible for inclusion in various technology-focused exchange-traded funds, increasing exposure to institutional capital. Within weeks of the announcement, Palantir completed its move and entered the NASDAQ 100. This sequence of events improved trading volumes and created a more dynamic market for Palantir’s shares, attracting more long-term investors.

This decision reflected the management’s ability to adapt to market conditions. By moving to NASDAQ after being included in the S&P 500, Palantir aimed to maximize the momentum from that achievement. The transfer was about more than just branding; it was a calculated effort to tap into new investment pools and reinforce market confidence in Palantir's strategies. The move reassured investors of the company's plan to remain competitive in a rapidly evolving tech environment.

3. Elon Musk’s Social Media Endorsement

When Elon Musk followed Palantir on Twitter, the gesture created a noticeable stir among investors and the general public. Musk’s social media engagement with Palantir content, including photos featuring the company's logo and videos of CEO Alex Karp discussing key topics, expanded the company’s reach. One video shared by Musk reached 50 million views, drawing attention to Palantir's developments and Karp's vision, which emphasized a focus on software over traditional business practices.

Musk’s involvement indicated interest in Palantir’s potential in areas like government contracts and AI-driven solutions. This interaction aligned with Palantir’s focus on working with government agencies such as the DoD, where efficient data handling and software solutions are in high demand. Musk's follow and subsequent interactions gave additional visibility to Palantir, suggesting that influential tech leaders see value in the company’s work.

The impact of Musk’s endorsement extended to market perception. Investors interpreted his engagement as a sign of confidence in Palantir’s direction. Additionally, such high-profile attention may have encouraged discussions within government circles and large corporations about potential partnerships. This moment not only boosted the company’s brand recognition but also provided a subtle nod of approval from a key industry figure, influencing investor sentiment and furthering Palantir's reputation in the market.

4. Analyst Dan Ives’ Bullish Upgrades

Throughout 2024, analyst Dan Ives consistently raised his price targets for Palantir, shaping market sentiment with his positive outlook. Starting when Palantir was trading around $15, Ives engaged with the retail community and highlighted the company’s potential. He discussed the benefits of Palantir’s technology, particularly in the context of increased capital expenditure on GPUs and the growing demand for software solutions that leverage big data, suggesting that Palantir was well-positioned to benefit from these trends.

Ives increased his price targets incrementally over the year—from $30 to $35, then to $50, and ultimately $75—based on his analysis of Palantir’s business model, its growing list of government contracts, and its expanding customer base. His upgrades were supported by detailed reasoning, such as the company's ability to capitalize on large-scale spending in the software sector and its strategic moves like joining major indices. By correlating his rising targets with specific business milestones, Ives provided a roadmap for investors to understand Palantir’s growth trajectory.

The consistent support from Ives influenced both institutional and retail investor behavior. When a respected analyst expresses conviction through higher price targets, it often leads to increased trading volume and attracts additional scrutiny from other market participants. Ives’ track record and deep dives into Palantir’s operations lent credibility to his assessments, encouraging more investors to take a closer look at the company. His stance helped sustain investor interest, contributing to the upward momentum in Palantir’s stock throughout the year.

5. Alex Karp’s ability to gain attention

A widely shared clip of CEO Alex Karp speaking about Palantir’s focus on software rather than traditional luxuries captured attention across social media. In the clip, Karp stated, "We don't play golf; what we do is we play software," highlighting the company’s dedication to its mission. The video circulated via the Daily Pounder Twitter account, resonating with investors and followers who appreciated Karp's clear emphasis on the company's core business.

The video was picked up by broader media, including the O’Reilly podcast, which brought Karp’s message to a larger audience. On the podcast, hosts and guests discussed Karp’s leadership style and his focus on delivering value to clients through innovative software solutions. This discussion painted Karp as a leader committed to results over appearances, a perspective that resonated with listeners familiar with the challenges facing tech companies. The attention reinforced the idea that Palantir’s leadership was focused on practical outcomes and long-term value.

The widespread attention around Karp’s speech had tangible effects on community and investor sentiment. The clip not only showcased Palantir’s culture but also strengthened the emotional connection between the company and its supporters. It provided an authentic view into the leadership’s priorities, boosting confidence among stakeholders. The viral moment became a reference point for Palantir’s approach to business, illustrating how clear communication from top management can unite a community and reinforce trust in the company’s direction.

6. Expansion Through AIPCon Events

Palantir’s series of events under the AIPCon banner in 2024 underscored its commitment to customer engagement and thought leadership in AI. Hosting at least three AIPCon events, along with other gatherings such as DevCon and a Grand Prix in New York City, the company created platforms to discuss its software solutions and their real-world applications. These events drew a diverse audience, including clients, investors, and industry experts, offering a deep dive into how Palantir’s technology was applied across various sectors.

At these conferences, Palantir executives interviewed clients from organizations like Tampa General Hospital, providing insights into how Palantir’s software improved decision-making and operational efficiency. Such sessions offered concrete examples of the company’s work in healthcare, defense, and finance, demonstrating its impact beyond theory. These testimonials and case studies served to validate Palantir’s solutions and provided potential customers with clear use cases for its technology.

Organizing and participating in these events showed Palantir’s focus on transparency and community building. Engaging directly with stakeholders at these conferences allowed Palantir to gather feedback and address concerns in real-time, which is crucial for refining its products and services. The events also generated valuable press coverage and social media buzz, further spreading awareness of Palantir’s capabilities and strategic vision. This approach not only reinforced loyalty among existing clients but also attracted new interest from potential partners and investors.

7. Revenue Growth Acceleration to 30%

In Q3 of 2024, Palantir reported a revenue growth rate of 30%, a milestone that challenged long-standing skepticism about its business model. The company had faced doubts that a firm known for complex government contracts and consulting services could sustain such high growth. Meeting these expectations demonstrated Palantir’s ability to scale its operations and adapt to increasing demand in its target sectors. The earnings report that highlighted this jump caused Palantir’s stock to move from $40 to $47 before it continued its rise to $75, reflecting strong market reaction.

This revenue acceleration was attributed to factors like new government contracts, wider adoption of Palantir’s software across different agencies, and stronger partnerships with enterprise clients. The company’s software solutions helped clients in the defense and healthcare sectors reduce costs and improve efficiency, driving repeat business and higher contract values. The achievement came despite challenging market conditions for tech firms, signaling Palantir’s resilience and capacity to capitalize on opportunities in AI and big data.

The impact of this milestone extended beyond immediate financial gains. Achieving 30% growth positioned Palantir among top-performing tech companies, reinforcing investor confidence and attracting further institutional interest. This strong performance set new expectations for future quarters, with analysts looking for sustainable growth in the coming years. The acceleration signaled that Palantir’s strategies were working effectively, laying a solid foundation for continued expansion and underscoring its role as a major player in the technology sector.

That’s it for today - see you tomorrow!

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