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Why Palantir Stock Nearly Doubled in May

Why Palantir Stock Nearly Doubled in May

Palantir Technologies (NYSE: PLTR) has been a momentum stock since it first went public during most of its two and a half years as a public company. In May, the company found itself in the center of the hottest trend in investing, and the stock shot higher. Shares of Palantir gained 89.8% in May, according to data provided by S&P Global Market Intelligence, as investors flocked toward stocks that are involved in artificial intelligence.