Palantir PLTR Stock is Struggling or Thriving?
Within one year, PLTR stock reached $25. After six months of IPO, from September 2020, till January 2021, it had been rising for 26 points. After January, the company has been performing stably by fluctuating around $20-25. For today, June 26th, its stock market is being evaluated for $25.35, and the average volume of sold/bought stocks is 57 962 447.
On June 18th, Palantir Technologies signed an agreement to produce data analytics tools for aircraft certification in partnership with Federal Aviation Administration. According to PLTR, this one-year contract, which includes two extra optional years, is estimated at maximum of $18.4 million.
The company will reinforce the FAA’s aircraft certification activities as well as surveil the fleet return of Boeing (BA) 737 Max, on the report of the agreement. Of course, financial news agencies can predict that PLTR stock will eventually start blossoming after the deal is executed.
However, even though PLTR is trying to increase commercial revenue, its reliance on federal agencies diminishing its stocks. For today, the stocks drop by 0.3%, amounting to 25.37 due to the stock fall of Nasdaq Composite.
Business and finance news outlets are still trying to connect the PLTR to tech stocks while it is quite far from AMZN or MSFT. Nevertheless, the stocks were regained by 8% in 2021 from its daily minimum of 17.06 set on May 11. On the other hand, the companies increased performance above 50-day norm average trading is still not enough to be fully functional.
PLTR’s first-quarter federal incomes in Denver, increased by 76% in comparison with the same period last year, which amounted in $208 million. For two last quarters, they reached 85% and 68%.