Palantir Stock Hits Record After Doubling This Year

Palantir software integrates software from various sources, allowing analysts to visualize it with a single dashboard. (FABRICE COFFRINI/AFP via Getty Images)

Palantir Technologies stock snapped a two-day losing streak and rose to record levels on Monday morning, trading as high as $146.88, comfortably above the record closing price of $144.25, reached on June 26.

In late morning, the stock was at $146.37, up 3%, for a gain of about 410% over the past year.

Palantir was already a hot stock, but its valuation has been supercharged as the U.S. government has increasingly adopted its technology since Donald Trump became president in January. The share price has doubled since Inauguration Day.

Palantir makes software that integrates data from disparate sources, allowing analysts to visualize them in a single dashboard, and aid with decision-making.

Write to Adam Levine at adam.levine@barrons.com