For all the sustainability concerns, few moves have proven savvier over the past 12 months than buying $1,000 worth of Palantir (NASDAQ: PLTR) stock.
On May 19, 2024, PLTR shares were changing hands at $21.62, while, at press time exactly one year later, they were trading at $123.59.
The 52-week, 471.65% rally means that an investor who purchased $1,000 worth of Palantir equity last May would have recorded a profit of $4,717 and would have his position rise to $5,717.
Furthermore, the rise of PLTR shares made it the best-performing top artificial intelligence (AI) player in 2024 and 2025.
For example, Nvidia (NASDAQ: NVDA) is the second-best high-profile performer in the sector, having soared 42.86% over the last 12 months. In contrast, Super Micro Computer (NASDAQ: SMCI)—a company many believed would record NVDA-like gains before falling from grace in August and September—is down 48.94% within the time frame.
Long-term factors driving Palantir stock performance
In the long term, Palantir’s incredible rise can, first and foremost, be attributed to the company’s decisive positioning as part of the strongest contemporary bullish narrative: AI.
Beyond the overall sentiment-driving factor, PLTR has benefited from the growth of its private sector and government businesses, its inclusion in the benchmark S&P 500 index, the event that kicked off the 2024 rally, and its relisting on Nasdaq.
Short-term factors driving Palantir stock performance
In the short term, Palantir stock enjoyed strong tailwinds from its performance, as exemplified by the latest impressive earnings report, and from a wider return to optimism among investors due to the 90-day trade truce with China.
Nonetheless, much like it benefited from macroeconomic factors as well as internal developments, PLTR has not been immune to the latest adverse news, such as Moody’s downgrade of the U.S. credit rating.
At the latest close—the afternoon of Friday, May 17—Palantir shares were up 499% in the 12-month chart, while the Monday pre-market downturn diminished the upside to 471.65% by press time.
Featured image via Shutterstock
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