Palantir Technologies (NYSE:PLTR) stock is in the news Wednesday after the big data company renewed a contract with UniCredit.
According to a press release, UniCredit has renewed its partnership with the company for another five years. That will see it make use of the Palantir Foundry operating system to enhance its digital transformation.
Investors will note that Palantir and UniCredit first started working together in 2018. Over those five years, UniCredit saw significant benefits from the Palantir Foundry operating system. That even resulted in it expanding the use of the technology to all CE&EE UniCredit Legal Entities.
Josh Harris, a Palantir executive, said the following about this partnership:
“Palantir has long been a proud partner to some of the world’s top financial institutions […] We’re honored that UniCredit has placed its confidence in Palantir once again and look forward to furthering the bank’s digital transformation.”
PLTR Stock Movement on Wednesday
With this recent news comes some 7 million shares of PLTR stock changing hands. That’s still a ways off from its daily average trading volume of about 61 million shares. The stock is also down 1.3% as of Wednesday morning despite the renewed contract. However, PLTR is up 170.4% year-to-date (YTD).
Investors looking for more of the latest stock market news will want to keep reading!
We have all of the hottest stock market news worth checking out on Wednesday! A few examples of that include what’s happening with ReShape Lifesciences (NASDAQ:RSLS), Pasithea Therapeutics (NASDAQ:KTTA) and Loop Media (NYSEMKT:LPTV) stock. You can find more on these matters below!
More Wednesday Stock Market News
- Why Is ReShape Lifesciences (RSLS) Stock Up 68% Today?
- Why Is Pasithea Therapeutics (KTTA) Stock Down 12% Today?
- Why Is Loop Media (LPTV) Stock Down 16% Today?
On the date of publication, William White did not hold (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.
