Palantir Stock: A Millionaire-Maker in the Making?

Palantir (NASDAQ: PLTR), a provider of data mining and analytics services, went public via a direct listing on Sept. 30, 2020. Its stock opened at $10 on the first day and soared to $39 during the meme stock rally on Jan. 27, 2021, but subsequently sank to an all-time low of $6 on Dec. 27. 2022. Like many of its peers, Palantir lost its luster as its growth cooled off and rising interest rates compressed its valuations. It was also a controversial company because it was backed by the CIA's venture capital arm and used by Immigration and Customs Enforcement (ICE) to deport undocumented immigrants.However, if you had invested $100,000 in Palantir at its all-time low, your investment would be worth a whopping $1.37 million today. Its stock soared to the $80s over the past two years as its sales growth accelerated, its profits surged, and it joined the S&P 500. Could that rally continue and generate more millionaire-making gains over the next few years?Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool