PLTR Stock: Why Palantir Is Trending on Reddit’s WallStreetBets Today

Palantir Technologies (NYSE:PLTR) stock is getting a boost Monday as traders over on Reddit’s WallStreetBets take notice of the company.

A close-up shot of a hand on a screen with the Palantir (PLTR) logo.
Source: Ascannio / Shutterstock.com

WallStreetBets has been worth keeping an eye on for investors ever since they launched prices of GameStop, AMC Entertainment, and other meme stocks last year. Now, traders on the subreddit are spending a good bit of time talking about PLTR stock.

So what exactly are investors excited about with PLTR stock today? It’s likely that upcoming earnings news is serving as a catalyst for investors to pump up shares prior to its release.

Palantir Technologies is set to release its earnings report for the fourth quarter of 2021 on Thursday. That report will drop before markets open with a conference call taking place at 8:00 a.m. Eastern Time that morning.

Investors watching for the earnings release on Thursday will want to keep a few financial targets in mind. Wall Street is looking for PLTR to post earnings per share of 4 cents on revenue of $413.99 million during the period. Some are expecting the American software company to easily beat these estimates while also posting a strong outlook for 2022.

It’s worth noting that the extra chatter for PLTR stock isn’t translating to heavy trading today. Instead, only about 28 million shares of the stock have changed hands. That’s a good bit below its daily average trading volume of about 42.5 million shares.

PLTR stock is up 2.1% as of Monday afternoon.

There’s more stock market news that traders will want to know about below!

InvestorPlace has all the latest stock coverage with our deep dives into the space. For Monday, that includes the latest news traders need to know about for Lucid (NASDAQ:LCID) stock, Intel (NASDAQ:INTC) stock, and  Moderna (NASDAQ:MRNA) stock. You can get all the latest details on these shares at the following links!

More Stock Market News for Monday

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2022/02/pltr-stock-why-palantir-is-trending-on-reddits-wallstreetbets-today/.

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