Palantir has had a banner year with its stock price up over 150 percent year to date. Stephen 'Sarge' Guilfoyle, Contributor, TheStreet Pro, explains why he's still bullish on the tech company going into the new year.
Related: Veteran trader makes surprising call between Palantir, Nvidia stock
Full Video Transcript Below:
CONWAY GITTENS: Well, let's talk PLTR. You highlighted Palantir as your single best trade back in May. Now you're back. Are you still bullish on the stock?
STEPHEN GUILFOYLE: Well, I'm not back because I never left. I've been bullish on this stock since almost since the very beginning. If you go back to the stocks under $10 portfolio, days of real money back when it was called real money pro, my net basis for the stock would be around $6. Now I couldn't own it while I ran that portfolio. So once that product ended, I could buy it for myself. My net basis is around 16, but this is the name that I am prepared to buy on dips and hold on to hopefully for a very long time. I'm thinking in terms of my generations of my family with this one, I'm not thinking only for myself.
Watch More Interviews:
- Ray J's blunt advice for aspiring entrepreneurs
- Dave Ramsey reveals why Americans keep spending despite economic gloom
- Remote work is stable and here to stay says ZipRecruiter economist
- Liz Ann Sonders: How to invest in AI hype without stock picking
CONWAY GITTENS: So this is a generational play for you. When you were here in May, the stock has since doubled from that price. Why are you so optimistic about Palantir?
STEPHEN GUILFOYLE: Part of it has to do with the CEO, which is Alex Karp. So I guess that could change somewhat. But he's the kind of guy that you really want running a tech company, I believe. I don't believe in everything he says. Sometimes he sounds a little wacky, sometimes he doesn't. But that's perfect to have someone who's somewhat who's a genius, but maybe somewhat eccentric running your tech company. He understands the ontology of AI, what he understands, how to maybe how to I guess, monetize AI in a way that other software firms and big data firms really haven't figured out so just yet. So far, it's really only been the NVIDIAs and the other providers. NVIDIA is the main one who have really prospered on this AI gold rush, if you will. Where on this end on the user end, the actual interface end with the customer side. Palantir seems to be so far the only one that's really winning on that side.
Don’t miss the move: SIGN UP for TheStreet’s FREE Daily newsletter
