Palantir Technologies (NYSE: PLTR) stock surged nearly 8% on Wednesday following enthusiastic endorsement from CNBC’s Jim Cramer, who emphatically labeled the stock a “buy, buy, buy.”
Jim Cramer, a renowned financial analyst, has given a big thumbs up to Palantir Technologies (PLTR) on his latest Mad Money show, urging viewers to “buy, buy, buy” amidst a surge in the company’s stock price.
Cramer recommended adding PLTR stock to portfolios during his Lightning Round segment on Monday. This endorsement comes hot on the heels of Palantir’s impressive fourth-quarter earnings report and encouraging statements made by the CEO during the earnings call.
The significance of Cramer’s endorsement cannot be overstated, particularly in light of Palantir’s recent market performance. With its stock gaining momentum post-earnings, Cramer’s vote of confidence further bolsters Palantir’s standing among investors.
This endorsement comes when influential figures like Cathie Wood also expressed confidence in Palantir’s potential, further solidifying the company’s standing in the market. Cramer’s support adds to the growing belief in Palantir’s resilience and promising future.
Earlier, Cramer expressed his support for Palantir’s CEO on X (formerly Twitter), noting that his “insanity is growing” on him following the fourth-quarter earnings call.
Palantir Technologies (NYSE: PLTR) Stock Reaction
PLTR stock soared 7.91% to close at $23.60 on Wednesday. The traders had exchanged hands with 253,726,981 (253.72 million) shares compared to the average daily trading volume of 61.49 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.
