Motley Fool
Could Palantir Technologies Stock Help You Become a Millionaire?
Palantir Technologies (NYSE: PLTR) went public in September 2020 at $10 a share, and here we are 16 months later and the data analytics specialist is trading at $13 a share, a 30% gain. With much of Palantir’s business coming from government contracts while trying to break further into the crowded private sector market, let’s see if the data analytics firm has what it takes to make a millionaire out of an investor today. Founded by venture capitalist Peter Thiel in 2004, Palantir was at one time a shadowy, secretive organization that counted the FBI, CIA, NSA, and other government agencies as customers (and still does), and through the first three quarters of the fiscal 2021, they still represent 59% of its $1.1 billion in total revenue.
