PLTR - Palantir: Fears Have Likely Peaked Time To Turn Bullish (Rating Upgrade)
2024-05-16 13:30:00 ET
Summary
- I warned about Palantir stock's "irrational exuberance" in March. PLTR then fell into a bear market through its recent lows.
- Palantir's recent guidance likely disappointed investors who craved more.
- Palantir's boot camp-driven AI sales cycle is still nascent, although robust.
- I explain why PLTR stock's overvaluation risks remain a valid concern.
- Despite that, I assessed why a timely buying opportunity has surfaced as fears have likely peaked.
Palantir Stock Fell Into A Bear Market Decline
Palantir Technologies Inc. (PLTR) investors who chased its "irrational exuberance" since my March 2024 update have significantly underperformed the S&P 500 ( SPX ) ( SPY ). I acknowledged PLTR's incredible AI growth momentum and opportunities through its Artificial Intelligence Platform. However, I highlighted my doubts about PLTR's overvaluation . As a result, I assessed that PLTR was priced for perfection, as AI investors headed into early 2024 with too much AI FOMO....
Palantir: Fears Have Likely Peaked, Time To Turn Bullish (Rating Upgrade)