Palantir Technologies Inc (PLTR) shares rose 3.87% in Thursday’s after-hours session after the company announced its plan to transfer its stock listing from the New York Stock Exchange to the Nasdaq Global Select Market. The move is expected to take effect on November 26, and Palantir’s Class A common stock will continue to trade under the ticker symbol “PLTR”.
The company’s shares have been a hot topic this year, having gained approximately 245% year-to-date, driven by its strong positioning in the AI space. In its latest quarterly results, Palantir reported revenue that jumped 30% year-over-year and saw U.S. customer count grow 39% year-over-year.
“We’re seeing an accelerating growth of our business, and our financial performance is exceeding expectations as we meet a high demand for advanced artificial intelligence technologies from our customers,” said Alex Karp, Palantir’s co-founder and CEO.
The transfer to the Nasdaq Global Select Market comes after the company reported strong quarterly results driven by “unrelenting” AI demand. With this move, Palantir anticipates meeting the eligibility requirements of the Nasdaq-100 Index.
Source: https://www.benzinga.com/trading-ideas/movers/24/11/41994158/palantir-stock-is-rising-after-the-bell-whats-going-on