In a week when the broad market rally lost some steam, Palantir Technologies Inc. (NYSE: PLTR) ended the week on a tear. PLTR stock was up 9.13% at the close of trading on November 15. The catalyst for the price movement was the announcement that Palantir was leaving the New York Stock Exchange and would be listed on the NASDAQ exchange. The company expects to be trading on the exchange beginning November 26.
By itself, that news doesn’t track with a nearly 10% surge in PLTR stock. However, the company also said it expects to meet the eligibility requirements for the Nasdaq-100 Index. This index is made up of the 100 most valuable stocks in the NASDAQ exchange.
