Tag Archive : Palantir

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  • In two emails sent internally this weekend, Palantir Technologies blamed Morgan Stanley for a “failure” that left some employee and alumni shareholders unable to sell their shares when the company made its public debut last Wednesday.
  • The problem stemmed from a glitch with Morgan Stanley’s trading platform Shareworks.
  • In an unsigned email sent late in the evening Sunday, Palantir said it had heard from Morgan Stanley that the bank was in a “war room” all weekend working to determine which shareholders were owed compensation. 
  • A spokesperson for Shareworks at Morgan Stanley said the issue was a “slowness” that “may have resulted in delayed logins into our system.”
  • Visit Business Insider’s homepage for more stories.

Palantir placed blame squarely on Morgan Stanley following a glitch in the bank’s trading software Shareworks on Wednesday, according two unsigned emails sent to “Palantirians” on Saturday and Sunday, which were obtained by Business Insider.

That

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Palantir (NYSE: PLTR), the big data and analytics software company, debuted on the public markets last month and is currently valued at about $15 billion, or about $9 per share, trading at about 14.5x projected 2020 Revenues. This appears like an attractive valuation, considering that Palantir is on track to grow by about 40% this year and also accounting for the fact that software stocks have been in favor with investors this year. Does this make Palantir stock an attractive pick at current levels? What are the key risks & catalysts?

See our interactive analysis on Palantir Stock: Expensive Or Cheap? for a detailed breakdown of Palantir’s financials, valuation, and comparison with other high-growth software stocks. Parts

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The news cycle this week seemed to grab people by the collar and shake them violently. On Wednesday, Palantir went public. The secretive company with ties to the military, spy agencies, and ICE is reliant on government contracts and intent on racking up more sensitive data and contracts in the U.S. and overseas.

Following a surveillance-as-a-service blitz last week, Amazon introduced Amazon One, which allows touchless biometric scans of people’s palms for Amazon or third-party customers. The company claims palm scans are less invasive than other forms of biometric identifiers like facial recognition.

On Thursday afternoon, in the short break between an out-of-control presidential debate and the revelation that the president and his wife had contracted COVID-19, Twitter shared more details about how it created AI that appears to prefer white faces over black faces. In a blog post, Twitter chief technology officer Parag Agrawal and chief design officer

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(Bloomberg) — Palantir Technologies Inc. fell 5% from its opening trades in its debut as a public company, ending a 17-year tradition of secrecy surrounding the software business co-founded by Peter Thiel.

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The data analytics company’s share price fell to $9.50 after opening Wednesday at $10 on the New York Stock Exchange. Palantir listed its shares directly on the exchange, rather than raising capital through an initial public offering. As in the three other major direct listings that have taken place, the exchange had set a reference price — $7.25 for Palantir — to help guide investors and to allow shares to begin trading.

Palantir ended the day with a market capitalization of about $15.7 billion based on its listed shares, according to data compiled by Bloomberg. On a fully diluted basis based on all the shares covered in its filings, the company has a value of almost

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BOSTON (AP) — Seventeen years after it was born with the help of CIA seed money, the data-mining outfit Palantir Technologies is finally going public in the biggest Wall Street tech offering since last year’s debut of Slack and Uber.

Never profitable and dogged by ethical objections for assisting in the Trump administration’s deportation crackdown, Palantir forged ahead Wednesday with a direct listing of its stock, gaining 31% in its first trading day.

Rather than selling newly minted shares to raise money; Palantir listed existed shares for public trading. After a delay, trading began after noon and the stock closed at $9.50 after reaching a peak of $11.42.


The low-key stock strategy was in character for a secretive company long reliant on spies, cops and the military as customers — and whose founders are keeping voting control of the company.

The big question for both investors and company management: Can

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Palantir Shares Go Up in Wall Street Debut

September 30, 2020 | technology | No Comments

Palantir Technologies, a company that helps government agencies analyze vast amounts of digital data, saw its shares jump in its Wall Street debut on Wednesday in a sign of continued investor excitement for money-losing software companies.

The company’s shares began trading at $10 on the New York Stock Exchange, a 38 percent increase from a “reference price” of $7.25 set Tuesday evening, and closed the day at $9.73.

Palantir is one of many companies rushing to go public before the election on Nov. 3. It hit the market the morning after a presidential debate seemed to foreshadow political turmoil that could rattle investors in the coming months.

Still, as the rest of the American economy has struggled with mass unemployment and the closing of businesses big and small, Wall Street has been welcoming to new public offerings. The three months that ended with September were the busiest quarter for initial

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  • Rep. Alexandria Ocasio-Cortez wrote a letter to the Securities and Exchange Commission asking for the agency to investigate the data-mining company Palantir ahead of its stock-market debut, which it made on Wednesday.
  • Among the congresswoman’s concerns is Palantir’s longtime penchant for secrecy, which she wrote could hurt future investors.
  • Other concerns listed are its domestic and foreign contracts, including with Immigration and Customs Enforcement, law-enforcement agencies, and foreign governments that “may present human rights risks.”
  • Palantir, a famed Silicon Valley startup founded in 2003, has a reputation for being secretive and has come under scrutiny recently ahead of its direct listing.
  • Visit Business Insider’s homepage for more stories.

Rep. Alexandria Ocasio-Cortez wrote a letter to the US Securities and Exchange Commission in mid-September asking the agency to investigate the secretive data firm Palantir as the company gained attention with its stock-exchange plans.

In the letter, the congresswoman listed several concerns

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After nearly two decades as one of Silicon Valley’s most closely guarded companies, data mining company Palantir Technologies finally went public on Wednesday in an unusual direct listing process.  After an expected delayed first trade, Palantir opened at 1:40 pm Eastern trading at $10 a share, up from the $7.25 reference price the company set on Tuesday night. It hit $11 at 1:50PM Eastern.

In a direct listing, the company does not raise funds for itself. Instead, existing shareholders get a chance to sell.  

Controversial investor Peter Thiel, who cofounded Palantir in 2003 and bankrolled the company in its early years, will be the biggest winner today as company chairman and its largest individual shareholder. 

Thiel and three investment firms he founded, Founders Fund, Clarium Capital and Mithril Capital, owned a total of 17.7% of the company before the

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  • Palantir insiders were temporarily unable to sell shares Wednesday due to an issue with Morgan Stanley’s trading software, CNBC first reported and Morgan Stanley confirmed to Business Insider.
  • The data-mining company went public Wednesday morning via a direct listing at $10 per share, but took a page from the traditional IPO process by having a “lock-up” period for existing investors.
  • Palantir still allowed those investors to sell up to 20% of their shares during the lock-up, but according to CNBC, some initially couldn’t take advantage of it because of a software glitch.
  • A Morgan Stanley spokesperson told Business Insider the company “experienced slowness that may have resulted in delayed logins into our system” but that its call centers were able to execute trades “at all times.”
  • Palantir’s stock jumped as much as 14% per share in early hours, but dropped again later in the day.
  • Visit Business Insider’s homepage for
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Data-mining company Palantir is set to go public on Wednesday when its shares start trading on the New York Stock Exchange. Dubbed the “most secretive” Silicon Valley startup, it has faced criticism for its ties to the Department of Homeland Security and has been accused of complicity in human rights abuses, while other critics have raised concerns that insiders will have excessive control once the company is public.

Here’s why Palantir is attracting investors’ attention.

1. It’s valued around $16 billion, but isn’t profitable

Palantir has never turned a profit, its securities filings show. But the company has reduced its losses over the years. In 2019, it generated revenue of about $743 million, a 25% jump from the previous year. In the first half of 2020, Palantir’s loss shrank to $110 million, from $285 million in the year-before period.

Of course, it’s not unusual for a technology company to continue

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