Palantir quickly reverses higher toward a 3-month high, best 4-day gain in six months

Shares of Palantir Technologies Inc.
PLTR,
+5.12%
quickly reversed an early pullback to power up 4.0% toward a three-month high in morning trading. The rally follows 20.4% rocket ride higher on Thursday, after the software company beat third-quarter profit expectations, with results showing strong demand for its artificial intelligence platform. The stock was down as much as 1.2% just after the open, but after reversing higher, was now up 27.2% amid a four-day win streak. That would be the best four-day performance since it ran up 33.3% during the four-day stretch that ended May 11. The stock is now 6.5% below the Aug. 1 closing high of $19.99, which was the highest closing price since Nov. 30, 2021. Palantir’s stock has slipped 0.1% over the past three months but has soared 191.1% year to date. In comparison, the SPDR Software & Services ETF
XSW,
+2.94%
has rallied 15.0% this year and the S&P 500
SPX,
+0.94%
has advanced 13.4%.