Palantir Technologies (NYSE: PLTR) stock is trading lower in the pre-market trading Wednesday. The company recently disclosed its acquisition of a 6.5% stake in MSP Recovery (LIFW) via a 13G filing, indicating ownership of 955,647 shares.
In a 13G exchange filing, Palantir (PLTR) revealed its ownership of a 6.5% stake in MSP Recovery (NASDAQ: LIFW), a healthcare recoveries and data analytics company. Palantir currently holds 955,647 shares of LIFW, as indicated in the March 22 filing released on Monday.
This disclosure comes amid Palantir’s notable performance in the past year, with its shares gaining over 165%. The company has recently secured significant contracts, including one from the Defense Information Systems Agency (DISA). The contract, awarded on Friday, entails the delivery of an Electromagnetic Battle Management – Joint Decision Support (EMBM-J DS) prototype, valued at $9.8 million over twelve months. This advanced software capability aims to support Joint Electromagnetic Spectrum Operations (JEMSO) for the Department of Defense.
Beyond its government contracts, Palantir has been active in international partnerships. The company recently inked an agreement with The Ministry of Education and Science of Ukraine. This partnership focuses on enhancing the education system and ensuring safe in-person learning opportunities for children. The agreement, spanning 12 months, supports Ukraine’s School Offline program to expand safe educational access to 300,000 students.
Palantir (NYSE: PLTR) Stock Performance
PLTR stock dipped 0.61% to close at $22.72 on Tuesday. The traders had exchanged hands with 39,596,545 (39.59 million) shares compared to the average daily trading volume of 71.34 million.
Edward Cooke is a financial analyst, freelance writer, and editor. He has six years of experience in financial journalism. He has an in-depth understanding of equities markets, tracking major indices and providing real-time analysis on stock price movements, corporate earnings, and market sentiment.
