Key Price Levels for Palantir (PLTR) to Watch Following Q2 Earnings and Insider Trading Activity
Overview of Palantir's Recent Performance
Palantir Technologies (NYSE: PLTR) made headlines by announcing Q2 earnings that beat expectations on August 5. Immediately following the results, the company secured several lucrative deals, particularly with Microsoft (MSFT) and Wendy's (WEN), aimed at diversifying its income streams.
Stock Market Reactions
- PLTR stock reacted positively with a 10% increase post-earnings announcement.
- It further gained 14% after the announcement of new deals.
Price Levels to Watch
As of August 12, Palantir's stock price has seen fluctuations. It decreased to $29.38 but showed signs of recovery with pre-market gains.
As investors prepare for the upcoming trading session, Palantir's stock is on the verge of testing a resistance level at $29.87. The previous resistance at $29.22 now serves as support, which is crucial for seeking further gains toward the all-time high of $35.18.
Insider Trading Insights
- Despite the surge in stock price, insider trading activity raises flags with a significant number of sales.
- For instance, David Glazer, CFO, sold 180,000 shares for a profit of over $3 million.
- This year, insiders have sold more than 23.4 million shares, raising questions about their confidence in the company.
Conclusion
As Palantir navigates through these critical price levels, investors should closely monitor both the performance of the stock and the ongoing insider trading activities, which could have implications for its future performance.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.