PLTR Is Due For A Breather
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Palantir (PLTR) may or may not be a meme stock but because of the complexity of its business, it has a certain mystique among investors. Where most companies provide a concise description of their business under the “About” section of their earnings releases, PLTR’s says: “Foundational software of tomorrow. Delivered today.”
At any rate, the stock has had a phenomenal run since its 1Q23 earnings report – more than doubling. In that press release, Co-Founder and CEO Alex Karp said: “The depth of engagement with and demand for our new Artificial Intelligence Platform (AIP) is without precedent.” However, PLTR only marginally raised full year revenue guidance by $5 million to $2,185-$2,235 million. Which raises the question: If demand for the new AIP platform is “unprecedented”, why aren’t they making more money from it?
The nutshell is that the stock is due for a breather. I’m looking to sell some PLTR Aug11 $21.50 calls for around 50 cents today to investors that want to speculate on another blowout quarter when PLTR reports 2Q23 earnings this afternoon.
#earnings for the weekhttps://t.co/lObOE0dgsr$PLTR $DIS $BABA $RIVN $AMC $UPST $SMCI $UPS $LCID $LLY $TWLO $PLUG $MARA $TTD $NVO $DDOG $RBLX $NVTA $CELH $SOUN $IONQ $TSN $GOLD $SWKS $WYNN $LAZR $MGNI $APPS $CHGG $ARRY $SONY $DNA $BRK.B $MPW $TOST $PARA $LYFT $BROS $LI $SWAV… pic.twitter.com/HfXm59XxOt
— Earnings Whispers (@eWhispers) August 4, 2023
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