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Cramer's Palantir Prediction Proves Prescient as Stock Soars
29 Jul
Summary
- Palantir stock has gained 105% year-to-date
- Cramer predicted Palantir would cross $100 before Wall Street analysts
- Cramer discusses Palantir in the context of new defense contractors and efficiency drives
Palantir Technologies Inc. (PLTR) has been a frequent topic of discussion on Jim Cramer's morning show, and the stock has recently gained a remarkable 105% year-to-date. Cramer had previously stated that he predicted the PLTR stock would cross the $100 price mark well before Wall Street analysts, and his bullish stance on the company has paid off.
In a recent discussion, Cramer talked about Palantir in the context of a new age of defense contractors and efficiency drives at the old ones. He noted that Palantir is behind a lot of the effort to have contractors be more competitive, highlighting the firm's significant catalysts from cost-cutting initiatives at the US government.
Cramer had been bullish on Palantir Technologies Inc. (PLTR) well before others, stating that the stock would continue to rise and that he would revise his price target as it reached new heights. The article suggests that while Palantir has potential as an investment, some AI stocks may hold greater promise for delivering higher returns with limited downside risk.
