Palantir Shares Slide over 4% After the Latest S&P 500 Snub

Tiger Newspress2024-03-04

Palantir shares slid over 4% after the latest S&P 500 snub.

CEO Alex Karp been boasting since last summer that Palantir's strong results make it eligible for inclusion in the S&P 500. However, S&P just released its latest update for the index, and Palantir has been snubbed but included Super Micro Computer and footwear designer and distributor Deckers Outdoor Corp.

The changes will take effect on March 18.

Inclusion in the S&P 500 typically benefits stocks as index funds holding portfolios that mirror the index are obligated to buy them to maintain the weightings of the constituent stocks. Additionally, the increased trading volume and liquidity due to purchases by index funds and ETFs further bolster the stock’s value.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • nywles
    2024-03-05
    nywles
    Thanks 
  • Kelvin 梁
    2024-03-04
    Kelvin 梁
    Since the main AI stock rally Palantir still stagnant. Lets wait to drop further? 
  • manta76
    2024-03-04
    manta76
    They don have that longevity to be listed on S&P  yet
  • Daytraderz
    2024-03-04
    Daytraderz
    4% nice dip ? 
  • AndyLam2000
    2024-03-04
    AndyLam2000
    So what is that mean for palantir increase or go down ?
  • Ahvi
    2024-03-04
    Ahvi
    Nice dip
Leave a comment
6
5