Palantir Technologies often comes in the top list of Wall Street Bets, though it showed worse results for the 2021 year. However, it has underperformed the market in 2021. Palantir is a software company that specializes in data management. Its platform enables clients to manage and secure their data.
The company’s various products include Apollo, Gotham, and Foundry. Gotham is an AI operating system that enables organizations to make faster decisions by analyzing vast amounts of data. It has been used by various government agencies and disaster relief organizations. The company’s Apollo product is its flagship platform. It allows customers to run their apps in the cloud without being tied to a public cloud.
The stock price of Palantir Technologies reached $45 in the first quarter of 2021. Despite this, there are reasons for optimism as it continues to expand its operations. Despite the underperformance in 2021, the stock however still comes as a high bet for many holders and people interested in buying. The company’s recent results have been good, and it is starting to generate positive cash flow from operations. Its valuation has also come down significantly.