What’s happening to Palantir Technologies stock today? – Palantir Technologies (NYSE:PLTR)

Palantir Technologies Inc. PLTR shares trade higher on Friday.

Yesterday, the company announced that it will transfer the listing of its Class A common stock to the Nasdaq Global Select Market from the New York Stock Exchange.

The company expects to begin trading as a Nasdaq-listed company on November 26.

According to Benzinga ProPLTR stock is up over 196% in the past year. Investors can gain exposure to the stock via REX AI Equity Premium Income ETF AIPI.

Meanwhile, Palantir held its first ever developer conference, DevCon 2024, on the 13th-14th. November, and brought together 150 leading commercial and public builders as well as technical managers.

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The two-day event featured a number of product launches, hands-on development opportunities and a competitive environment aimed at accelerating innovation in data and technology.

A major highlight of the conference was the public launch of new features for AIP for developers.

This marks a significant step in Palantir’s strategy to streamline backend development, enabling faster and more efficient transitions from prototype to production.

Among the new releases were updates such as Ontology SDK 2.0, improved Platform APIs and Workflow Builder.

Palantir has been one of the hottest stocks of the year, gaining approximately 245% year-to-date, driven by the company’s positioning in artificial intelligence.

Palantir shares really took off in early November after the company reported strong quarterly results driven by “sustained” AI demand.

Revenue increased 30% year-over-year due to continued strength in the US customer base grew 39% year-over-year after the company closed 104 deals valued at over $1 million during the quarter.

Price action: PLTR shares are trading 6.31% higher at $62.91 at last check on Friday.

Image via Shutterstock

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