---
title: "Palantir announces transfer to Nasdaq listing, reaching a historic high"
description: "Palantir announced that it will move its listing from the New York Stock Exchange to NASDAQ, with its stock price soaring 11%, reaching an all-time high with a closing price exceeding $65.77 and a mar"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/219854470.md"
published_at: "2024-11-15T23:35:05.000Z"
---

# Palantir announces transfer to Nasdaq listing, reaching a historic high

> Palantir announced that it will move its listing from the New York Stock Exchange to NASDAQ, with its stock price soaring 11%, reaching an all-time high with a closing price exceeding $65.77 and a market capitalization of $150 billion. Since the release of its better-than-expected earnings report last week, the stock price has risen more than 45%. Board member Alexander Moore stated that this move could benefit retail investors and encourage ETFs to purchase billions of dollars in stock. The company's third-quarter performance exceeded expectations, driven by demand for artificial intelligence

According to Zhitong Finance APP, on Friday, Palantir (PLTR.US) stock continued its upward trend, soaring 11% to reach an all-time high. The company, which develops software for the military, announced plans to move its listing from the New York Stock Exchange to the Nasdaq.

By the close, Palantir's stock price surpassed $65.77, with a market capitalization of $150 billion. Since the release of better-than-expected earnings last week, the company's stock has risen over 45%, nearly quadrupling year-to-date.

Palantir announced on Thursday evening that it expects to begin trading on Nasdaq on November 26, with the stock ticker remaining "PLTR." Although changing the listing exchange does not alter the company's fundamentals, board member and venture capital firm 8VC partner Alexander Moore stated on social media X (formerly Twitter) that this move could benefit retail investors, as "it will force" exchange-traded funds (ETFs) to purchase billions of dollars in stock.

"Everything we do is to reward and support our loyal retail 'diamond hands,'" Moore wrote. "Diamond hands" is a term commonly used in the cryptocurrency community to refer to long-term holders. However, Moore later appeared to delete his X account, and his firm 8VC has not commented on this.

On Monday after the market closed, Palantir released its third-quarter earnings report, which exceeded market expectations and provided a fourth-quarter outlook above Wall Street's forecasts. CEO Alex Karp stated in the earnings report that the company's performance this quarter "far exceeded expectations," primarily driven by demand for artificial intelligence technology.

The report showed that Palantir's revenue from U.S. government business grew 40% year-over-year to $320 million; U.S. commercial revenue increased 54% year-over-year to $179 million. During the earnings call, the company specifically mentioned a five-year contract with the U.S. military to expand its Maven technology across the Department of Defense. The Maven project began in 2017 and aims to provide artificial intelligence tools to the Department of Defense.

The stock price increase following the earnings report is also related to the market atmosphere after last week's presidential election. The market believes that, given Palantir's ties to the Trump camp, the company may benefit from this. Palantir co-founder and chairman Peter Thiel was a significant supporter of Trump's initial successful campaign, although he later publicly split from Trump.

In September of this year, S&P Global announced that Palantir would be included in the S&P 500 index. Nevertheless, analysts at Argus Research warned that, considering the current financial situation and growth expectations, the stock's increase may be excessive. Although analysts still give the stock a long-term buy rating and stated in a report last week that the company's performance this quarter was "outstanding," they downgraded the 12-month recommendation rating to "hold." Analysts wrote in the report: "The current stock price may have exceeded the level that the company's fundamentals can support."

### Related Stocks

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
