Palantir (NYSE: PLTR) has been subject to a lot of criticism, speculation and was even the victim of a Reddit short squeeze at the start of 2021. The big data analytics company has come under fire from armies of analysts and retail traders alike; who rightly so, saw the company’s heavy reliance on government contracts as a bit of a red flag.
There have been times where more than 50% of Palantir’s revenue was directly aligned with government contracts; a treacherous position to find yourself in should these contracts end for one reason or another. Recently, however, sparks in the companies growth acumen have come from a steady exposure into the commercial realm – the sector where Palantir can really come into full force.
Today’s news might just beckon buyers back to the sideways stock; as the company enters a partnership with big-data heavy hitter out of South Korea, Hyundai Heavy Industries Group. Utilizing Palantir’s technology for shipbuilding, offshore engineering and other industrial processes, Palantir’s latest partnership signals a further move into the commercial enterprise; a realm where shareholders will benefit the most from.
Boosting commercial business domestically and outside of the U.S is a fundamental premise of Palantir’s new growth model. Whilst government contracts still support gaps in commercial revenue, Palantir is actively looking to expand commercially. The stock has long been impressive on paper, but this move could well be the start of a new chapter.
Tech stocks offer some of the best growth potential, but time and time again, traders and investors ask us “what are the best tech stocks to buy?” You've probably seen shares of companies such as Amazon and Netflix achieve monumental rises in the past few years, but there are still several tech stocks with room for significant gains. Here is our analysts view on the best tech stocks to buy right now
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