The technology company has seen a significant rise in its shares after being included in the S&P 500 index, with a rise of 7.8% before the market opened and more than 13% in the last 30 days.
The actions of Palantir Technologies (PLTR) rose almost 13% this Monday after S&P Global announced on Friday afternoon that the software and data analysis company will join the benchmark S&P 500 index, with the inclusion effective before the market opens on September 23. It should be remembered that the firm is listed on the Buenos Aires market through its Cedear and has a value of $ 14,175.
Shares of the Denver-based company, which have nearly doubled over the past twelve months, have been in the crosshairs of investors as a possible contender for a coveted inclusion in the blue-chip index this year as its artificial intelligence (AI) software offerings continue to drive gains.
Palantir shares are up 12.4% on Monday, a gain of 13.5% over the past 30 days and more than 30% over the past six months.
Requirements for the S&P 500
To join the S&P 500, a company must have reported a profit in its most recent quarter and have cumulative profits for the most recent four quarters, requirements the software maker easily meets after reporting a profit for the past seven consecutive quarters, with the latest quarterly profit being the largest in its twenty-year history.
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Palantir shares were up 7.8% at $32.69 about 90 minutes before the market opened on Monday.
Source: Ambito
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