Is the newest member of the S&P 500 a buy?

Palantir stock jumped more than 13% on Monday. The stock was soaring on the news that it was added to the S&P 500.

Key points Palantir stock jumped more than 13% on Monday. The stock was soaring on the news that it was added to the S&P 500. The stock is up nearly 100% YTD. Is it a buy? This AI stock is soaring on the news that it has been added to the S&P 500. Is it a buy? Palantir Technologies stock was soaring on Monday, making it one of the top gainers on the day, up more than 13% as of mid-afternoon, Eastern time.

It has also led to huge gains in its share price, as Palantir stock jumped 167% in 2023 and is up roughly 100% so far in 2024, trading at just over $34 per share. Why inclusion in the S&P 500 matters With a market cap of about $76 billion, Palantir was added to the S&P 500 last week, along with Dell and Erie Indemnity . On September 23, they will replace American Airlines , Etsy , and Bio-Rad Laboratories .

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