Palantir climbs 9% in volatile trading after 1st-quarter earnings report

Alexander Karp Palantir
CEO Alex Karp. YouTube/Screenshot

Palantir snapped a 10-day losing streak on Tuesday, climbing as much as 9%, after the company reported first-quarter earnings.

The data-analytics company reported revenue of $341.2 million for the quarter, exceeding Wall Street’s $332.5 million forecast.

Heading into Tuesday, Palantir shares had plunged 23% over a 10-day period amid a broader tech sell-off.

But not all investors are straying from the stock. Cathie Wood’s Ark Innovation ETF scooped up over 1 million shares of Palantir on Monday, while her Ark Next Generation Innovation ETF bought 294,177 shares, fund filings show.

Further, on the company’s Tuesday earnings call, chief financial officer David Glazar said Palantir would consider putting bitcoin on its balance sheet, and he said they accept bitcoin as payment.

Screen Shot 2021 05 11 at 9.37.47 AM