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Why Palantir Technologies Shares Are Rising

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Shares of companies in the broader tech sector, including Palantir Technologies ($PLTR@US), were trading higher Tuesday as fears surrounding the COVID-19 omicron variant ease. The sector has been volatile over the past few sessions due to variant concerns, while a late-November rise in treasury yields also weighed on growth stocks. Palantir provides organizations with solutions to manage large disparate data sets in an attempt to gain insight and drive operational outcomes. Palantir released its Gotham software platform in 2008, which focuses on the government intelligence and defense sectors and later expanded into various commercial markets with its Foundry software platform in 2016. Yesterday it announced a partnership with EMD Group on a new collaborative data analytics platform to optimize supply chain transparency and quality in the semiconductor industry. EMD Group is a leading science and technology company in healthcare, life science, and electronics. Palantir has a 52-week high of $45.00 and a 52-week low of $17.06 and closed at $19.45 yesterday.

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