Palantir Technologies Inc. CEO Alex Karp travels to Sun Valley, Idaho, USA, to attend the morning session of the Allen & Co. Media and Technology Conference on Wednesday, July 10, 2024.
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Palantir The stock rose 13% on Monday and is currently trading at its highest level since early 2021 after announcing late Friday that the stock would be sold. additional to the S&P 500.
Palantir is joining the index Dell. they are replacing American Airlines and etsiS&P Global said in a report Press release.
Shares of companies included in the benchmark typically rise after the announcement, as fund managers tracking the index regularly update their portfolios to reflect the additions. Dell shares rose nearly 4% on Monday.
To join the S&P 500, a company must report profits in its most recent quarter and have cumulative profits in its most recent four quarters. exist Season 2Palantir’s net profit totaled $135.6 million, up from $27.9 million in the same period last year. company Turn losses into profits Final Season 2022.
Technology companies account for a growing share of the S&P 500, reflecting their growing importance to the overall economy. Cyber ​​Security Provider mass strike The period is added to the index Previous rebalancing,June. super microcomputerThe move comes three months after the company competed with Dell in selling servers for artificial intelligence workloads.
The median market capitalization of S&P 500 companies is approximately $33.5 billion. Palantir’s market capitalization exceeds $76 billion. The company listed on the New York Stock Exchange in 2020.
The stock rose to $34.30 on Monday, about 14% below its peak.
—CNBC’s Ari Levy contributed to this report
watch: Palantir co-founder Joe Lonsdale calls on big tech companies to take responsibility
