Palantir Stock Soars as Blowout Q2 Earnings Silence the Bears

For years, Palantir Technologies (PLTR) has been the most controversial stock on Wall Street. Bears argued that the company’s valuation skyrocketed on hype rather than sustainable growth. Bulls, meanwhile, insisted that Palantir was building an AI business unlike any other software company. With its recent second quarter report, the argument appears to favor the bulls. Revenue surged at the fastest pace in company history, U.S. commercial demand continued to accelerate, profitability reached new highs, and management provided its most aggressive projection yet.

The numbers were so strong that the market rewarded the stock, which climbed 29.5% yesterday, despite falling 10% year-to-date (YTD). While bears seem to have run out of arguments, the focus has shifted to just how much runway Palantir still has ahead of it.