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Palantir Adds $17 Billion in Value in Best Week Since Debut

Palantir Technologies Inc. signage during the company's initial public offering (IPO) in front of the New York Stock Exchange (NYSE) in New York, U.S., on Wednesday, Sept. 30, 2020.

(Bloomberg) — Palantir Technologies Inc. posted its best week since it went public in September, adding about $17 billion in market value as a broad rally in tech stocks helped fuel gains in the software maker.

Its shares rose 52% since Monday and touched a fresh intraday record at $33.50. The stock lost some of the gains on Friday after Citron Research said in a tweet it was shorting the stock with a $20 target. The company ended the session at $27.66.

Palantir representatives didn’t respond to a request for comment. Read more…..

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Financial markets plunged again on Tuesday as investors continued to worry about the spread of the coronavirus.

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