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Palantir has put up remarkable business results, and growth continues to accelerate.
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But the stock’s valuation has reached levels that rarely end well.
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My projection of where the stock might go from here is not encouraging.
If you traveled back in time to early 2023, few would probably have guessed that Palantir Technologies (NASDAQ: PLTR) would trade at $165 per share. The stock traded under $7 back then. But the artificial intelligence (AI) boom took off, Palantir released its AIP platform for AI software in mid-2023, and the business and the stock have both soared ever since.
Investors face the same question now: where will Palantir’s stock go from here…
