Palantir stock on Wednesday hit a new all-time high, shrugging off a controversial New York Times article as well as drama involving President Donald Trump and tech industry maverick Elon Musk.
On the stock market today, Palantir stock popped to over 139 in morning action. Shares were up nearly 2.5% to 136.23 in afternoon trading, still a new high. Palantir stock has shot up 81% in 2025 following up on a big year in 2024.
The maker of data analytics software holds a premium valuation. Palantir stock has gained amid views that the company seems poised to win more U.S. government business under the Trump administration. Also, retail investor enthusiasm for generative artificial intelligence plays has boosted Palantir stock, although commercial-related revenue has yet to ramp up.
New York Times Raises Questions
The New York Times reported May 30 that the Trump administration will tap the data analytics firm to help the federal government share data across agencies. Palantir is in negotiations with the Social Security Administration and Internal Revenue Service, the report said. While the NYT report raised questions over privacy and oversight, shares wavered as investors weighed the opportunity for new government contracts.
On June 3, amid controversy over the article, the software maker retorted on X: "Palantir never collects data to unlawfully surveil Americans, and our Foundry platform employs granular security protections. If the facts were on its side, the New York Times would not have needed to twist the truth."
Meanwhile, Palantir stock sold off last week when a dispute erupted between Tesla Chief Executive Musk and Trump. Tesla stock plunged as well
Palantir stock advanced Wednesday after Musk said in a social media post that he regretted some of his comments about Trump. Musk said some of his posts about Mr. Trump "went too far."
Several members of the Trump administration have ties to Palantir, a company co-founded by longtime venture capitalist Peter Thiel. They include David Sacks, tapped as White House artificial intelligence and crypto czar. Musk, Sacks and Thiel helped launch PayPal.
Musk has been a key Trump advisor but recently left the cost-cutting Department of Government Efficiency, or DOGE.
Palantir Stock Technical Ratings
Palantir's Relative Strength Rating stands at 99 out of a best-possible 99.
Palantir stock holds an Accumulation/Distribution Rating of B-plus. That rating analyzes price and volume changes in a stock over the past 13 weeks of trading. A+ signifies heavy institutional buying; E means heavy selling. Think of a C grade as neutral.
Follow Reinhardt Krause on X, formerly Twitter, @reinhardtk_tech for updates on artificial intelligence, cybersecurity, quantum computing and cloud computing.
