new-recommended-broker-banner new-recommended-broker-banner
Practice Stock Trading Your Capital Is At Risk

Palantir (PLTR) Stock Price Jumps On News Of US Army Contract

Updated: 6 Oct 2021

Palantir (NYSE: PLTR) shares are rallying Wednesday after the company revealed on Tuesday evening that it has been selected by the U.S. Army’s Program Manager for Intelligence Systems and Analytics to deliver the Army’s Intelligence data fabric and analytics foundation for the Capability Drop 2 (CD-2) program.

Palantir was chosen to advance to the next phase of the Army’s $823m indefinite delivery, indefinite quantity (IDIQ) contract. 

Also Read: Palantir Stock Forecast

After a successful “Test, Fix, Test” process, Palantir will help the Army proceed through final testing and fielding.

new-recommended-broker-banner

Palantir will deploy its Gotham Platform to support Army Intelligence users with a globally federated Intelligence data fabric and analytics platform crossing multiple security classifications. 

CD-2 is one of several efforts Palantir is working on with PEO IEW&S to modernize the Army’s intelligence enterprise.

“We look forward to the continued partnership with PEO IEW&S and the Army’s Intelligence Community in providing new and exciting technology that help them in their modernization efforts,” said Doug Philippone, Palantir’s Global Defense Lead.

Palantir shares climbed over 12% in after-hours trading on Tuesday evening. However, they were up over 8% premarket and opened up Wednesday's session at $24.88. At the time of writing, Palantir's stock price is sitting at $24.8 per share.

Should You Invest in Palantir Shares?

One of the most frequently asked questions we receive is, “what stocks are best to buy right now?” It's a wide-ranging question, but one that we have answered… Our AskTraders stock analysts regularly review the market and compile a list of which companies you should be adding to your portfolio, including short and longer-term positions. Here are the best stocks to buy right now

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .