PLTR Stock Gains 4% as Palantir Announces New Partnerships

  • Palantir (NYSE:PLTR) signed two new deals sending its stock higher.
  • One is with waste and recycling marketplace operator Rubicon Technologies.
  • The other is with automaker Stellantis N.V.
Palantir (PLTR stock) logo on data network background, imaginary location in the future

Source: Spyro the Dragon / Shutterstock.com

Palantir (NYSE:PLTR) stock is getting a boost on Thursday after announcing a couple of new partnerships.

The newest of these partnerships is with Rubicon Technologies and was announced today. Rubicon Technologies is a digital marketplace for waste and recycling. It also acts as a software-based solutions provider for businesses and governments around the world.

The partnership between Palantir and Rubicon Technologies covers enhancing the latter’s data, analytics, and reporting capabilities. Palantir will be making use of its Foundry operating system for this task.

In addition to this, the two companies are working together on a joint project. The goal is to create a go-to-market strategy for the commercialization of Rubicon subscription data products and services.

The next partnership we’re talking about is with Stellantis N.V. and was announced yesterday. Stellantis N.V. is an automobile and mobility company that already has a previous partnership with Palantir.

The newest partnership is an expansion of that and focuses on expanding the automaker’s business around the world. Just like with the other deal, this will be accomplished through the use of the Foundry operating system.

News of this deal originally sent shares of PLTR stock soaring on Wednesday. With the addition of the following partnership today, PLTR shares are continuing to rally. As of Thursday afternoon, the stock is up 4%.

Investors seeking out more stock market news will want to keep reading!

InvestorPlace has all of the latest stock market news that traders need to know about for Thursday! A few examples of that include what’s happening with shares of Gores Guggenheim (NASDAQ:GGPI) stock, Dollar Tree (NASDAQ:DLTR) stock, and Vinco Ventures (NASDAQ:BBIG) stock. You can read up on all of this news at the links below!

More Thursday Stock Market News

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.


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