Palantir Stock Surges to Fourth Most Traded with $91.94 Billion Volume

Palantir Technologies (PLTR) shares rose by 2.04% on July 17, marking the second consecutive day of gains and a total increase of 3.64% over the past two days. The company's trading volume reached $91.94 billion, making it the fourth most traded stock of the day.

Palantir's stock price surged to an all-time high of $153.70 during morning trading on July 17, driven by strong momentum in the artificial intelligence (AI) sector. The company's strategic AI partnerships and robust commercial growth have been key drivers of this rally. Palantir has expanded its commercial deal pipeline to $2 billion through the adoption of its AI Platform by 14 new enterprises. Additionally, strategic partnerships with Knightscope and Velocity Clinical Research have boosted commercial revenue growth by 71% year-over-year. The company has also set a record revenue guidance of $3.89 billion for 2025, reflecting Wall Street's optimism about AI-driven defense spending and commercial AI adoption.

Palantir's stock has seen significant institutional inflows due to its inclusion in major indexes. However, the company's high forward price-to-earnings (P/E) ratio of 426x, which is 3.5 times the S&P 500 average, has raised valuation concerns among investors. Despite this, the stock's 437.9% annual gain reflects strong investor confidence in Palantir's growth prospects. Analysts have set a price target of $104.96 for the stock, which is lower than its current price of $154.61.

Palantir's stock has been outperforming both sector peers and leveraged ETFs, with a 2.45% intraday gain and $49.99 million in turnover. The stock's technical indicators, such as the Relative Strength Index (RSI) at 58.09 and the Moving Average Convergence Divergence (MACD) at 4.65, suggest neutral to bullish momentum. However, traders are advised to monitor key resistance levels and options liquidity ahead of potential price movements.