Ought to You Purchase Palantir Inventory Earlier than Dec. 13?

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Palantir Applied sciences (NASDAQ: PLTR) has had an unimaginable run in 2024. The corporate has develop into probably the most talked about platforms fueling the synthetic intelligence (AI) narrative, shares of the inventory have gained greater than 300% this yr alone, and it is develop into a member of the S&P 500 index.

However with only a few weeks left within the yr, Palantir may need one final huge milestone achievement up its sleeve. Beneath, I will clarify why Dec. 13 is a vital date for Palantir traders. Let’s break down what traders ought to be looking out for and assess if the inventory is an effective purchase proper now.

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This yr, Dec. 13 falls on a Friday. And whereas Friday the thirteenth is normally affiliated with unhealthy luck or superstition, Palantir traders could have some extra excellent news headed their means.

Subsequent Friday, the Nasdaq-100 index goes to be reconstituted. Which means that a brand new collection of corporations might be added to the coveted index, changing shares which have fallen out of eligibility.

That is essential, as a result of the Nasdaq-100 is mostly affiliated development shares and profitable alternatives past the S&P 500.

Picture supply: Getty Photographs.

On Sept. 6, Palantir introduced that it had formally earned entry into the S&P 500. For the reason that date of that announcement, shares of Palantir have soared by 138% as of market shut on Dec. 5.

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Just a few months later, Palantir introduced that it was altering the inventory alternate on which it trades — transferring from the New York Inventory Alternate (NYSE) to the Nasdaq.

PLTR Chart
PLTR information by YCharts

Since becoming a member of the Nasdaq on Nov. 26, shares of Palantir have gained about 10% (as of market shut Dec. 5). That is a fairly dramatic transfer in solely seven buying and selling days.

Within the press launch concerning this announcement, administration expressed that “upon transferring, Palantir anticipates assembly the eligibility necessities of the Nasdaq-100 Index.”

Whereas historical past is not any assure of future outcomes, the inventory’s efficiency following its entry into the S&P 500 and its transition to the Nasdaq function a good proxy for what traders may count on ought to the corporate earn a spot on the Nasdaq-100 on Dec. 13.

I feel there’s a good likelihood Palantir might be added to the Nasdaq-100 subsequent week and, ought to that happen, I might be shocked if the inventory would not transfer even larger. However whereas changing into a member of the Nasdaq-100 is a good milestone, such an achievement alone doesn’t make Palantir inventory a purchase.

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