TECH - Palantir Technologies: Bearish Sentiment Bullish Chart Signals | Benzinga
While the overall sentiment remains significantly bearish for Palantir Technologies (NYSE: PLTR), the company remains undeterred. Its stock has surged almost 50% YTD and more than 200% over the previous year.
Having spent the previous two months consolidating in a tight range after earnings, the stock is shaping up for a higher potential move. However, it remains one of the lowest-rated stocks, with healthy short interest and recent insider selling.
The bearish sentiment and bullish technical formations make for an interesting scenario. The stock might continue higher, partly due to the overwhelming bearish sentiment.
So, let's take a closer look at the stock's fundamentals and technical shape to see whether PLTR might be heading toward higher prices.
What is Palantir Technologies?
Founded in 2003 by notable investors Peter Thiel and Stephen Cohen, Palantir Technologies is a SaaS company headquartered in Denver, Colorado. It aims to revolutionize AI and big data analytics and enhance human intelligence.
Initially geared toward federal government applications, Palantir has expanded to serve state, local and private corporations. It offers solutions like Palantir Gotham, Apollo, Foundry and Metropolis, with Gotham being its core ...