00:00 Speaker A
Well, indeed, Palantir, one of the best performers in the S&P 500 year-to-date, right? As you said, we’ve seen an almost doubling of the shares. And by the way, that comes on the heels of a gain last year of 340% and a gain in 2023 of 167%. So this has been, to your point, a consistent outperformer that people in some cases have been chasing, right? Um, and part of that has to do with, you know, not any just anything AI, but a company that is actually booking a lot of sales related to AI. As we know, Palantir, which sort of got its start really marketing its services more to governments and government-related entities, and then started building out a robust commercial business as well that has been one of the latest reasons that investors have been getting in. If you look at the revenue growth in the company, right? You go back to 2021, it was seeing 41% year-over-year revenue growth, and it’s been consistently double digits. It’s not huge, right? It’s not, you know, eye-poppingly Nvidia-like, for example, but it is consistently double digits. 2024, for example, saw 29% growth, and then the estimated growth in revenue this year, 36%, and next year, 29%. That said, we have definitely seen some more negative sentiment creep in even as it keeps climbing and keeps making new highs. Part of that is because the valuation, the forward price earnings ratio, according to tools on the Yahoo Finance platform, stands at 263, 263, which is an extraordinarily high, eye-watering valuation. That’s one of the reasons that people on the street are not necessarily bullish on the stock. We got eight buys, 15 holds, and six sells on Palantir. It’s also why a lot of folks have been shorting these shares, but at their peril. We have consistently seen short squeezes come into the stock, and the latest data that we got from S3 partners shows that short interest in Palantir, um, as a percentage of float is at about 2%. But that’s down from 5% last October. And that’s because some of those shorts got squeezed out, as we have seen a huge rally continuing, and that’s meant losses for some of those shorts of about $7 billion in that period of time. So, combination of fundamentals, as well as that revenue growth that we have seen, promise for the future that a lot of investors believe in, and then the sort of short squeeze phenomenon, putting some gasoline on that fire as well, Josh. All of that contributing to that high that we’re seeing again in Palantir shares.
07:23 Speaker B
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