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Barchart
Barchart
Wajeeh Khan

Rackspace Stock Is Soaring on a Palantir Partnership. Should You Chase RXT Shares Here?

Rackspace Technology (RXT) shares nearly quadrupled this morning after announcing a strategic partnership with Denver-headquartered Palantir Technologies (PLTR). According to the press release, this partnership aims at integrating Palantir’s Foundry and Artificial Intelligence Platform (AIP) with its managed services, targeting highly regulated industries. 

Despite an explosive rally on Wednesday, Rackspace stock remains down about 50% compared to its 52-week high. 

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