Should You Buy Palantir Stock While It's Below $30 per Share?
Palantir (NYSE: PLTR) stock has become one of the darlings of the artificial intelligence (AI) industry. The company has long used AI to power its Gotham and Foundry platforms. However, the launch of a new platform has AI investors looking at Palantir in a new light.
Still, the stock's gains have paused since early February, when it was at the mid-$20s per share level. Does this mean investors should buy while it is under $30 per share, or does the stock price behavior mean the rally is over? Let's take a closer look.
The most likely reason investors may not want to buy now is that they think the stock's price has moved ahead of its valuation. The company's stock price has quadrupled since late 2022. Optimism surrounding AI appears to have driven this gain, thereby increasing the stock's valuation.
Source Fool.com
