Palantir (PLTR) investors closed off the week with the stock gaining +6.56% the last 5 days, which means it sits at +18.15% YTD.
Here's this week's news for Palantir, let's go through it together.
LEGEND: Positive News | Neutral News | Negative News
Palantir has announced that it's conference this year, FoundryCon, will be live streamed on February 1.
This is a conference that Palantir runs for customers, where companies using (or planning to use) Palantir's products speak.
These events are great to market and build trust with your customer base, and generally serves as a networking opportunity which ultimately converts to more sales and profits long term.
Palantir announced a partnership with Cardinal Health to leverage its Foundry platform.
Foundry will integrate with Cardinal's solution and use AI + Machine Learning to better understand and gather data around the drugs they sell. This will help them better manage inventory, streamline processes, and ultimately result in improved efficiency and cost savings.
This is yet another example of Foundry being flexible regardless of industry - and as these customers keep piling on, it builds the network for Palantir even stronger. If competitors to Cardinal Health see that Foundry is helping with X efficiency or cost savings, you bet they'll evaluate adding Foundry to their systems as well.
This is great news for Palantir investors as it continues to build their customer base across verticals.
Palantir is facing an investigation from Kahn Swick & Foti (KSF) LLC. which is a law firm that is trying to figure out if Palantir's officers/directors breached their fiduciary duties to shareholders.
Particularly, they are looking at the financials from Palantir's Q1 2022 report (and Q2 2022 guidance).
This law firm has plenty of open investigations with public companies and while it may end up being a nothing-burger, it is a black mark to keep track of incase anything comes of this.
Financial accuracy is extremely important, because if there's trust lost there, investors will flee and likely never return to the stock.
We look forward to spending a few minutes with you next Sunday for some new Palantir news!
Disclosure: I am a Palantir Technologies (PLTR) shareholder at the time of publishing.