Palantir (NYSE:PLTR) stock is on the rise Tuesday as the company’s shares pick up where they left off on a Friday rally!
Palantir is among the companies that have been rallying lately due to AI news. It’s making its own strives with AI recently, but PLTR stock isn’t climbing higher just because of the company’s actions.
Instead, traders can look to Nvidia (NASDAQ:NVDA) as the reason behind the recent AI rally. It released earnings last week that excited investors while speaking about a positive outlook for AI. Additionally, the company announced more products that are connected to AI today. All of this has continued to fuel the recent AI rally.
When Will The PLTR Stock Rally End?
The AI stock rally could continue this week as there are potential positive catalysts on the way. That includes AI company C3.ai (NYSE:AI) preparing to release its latest earnings report tomorrow. If its results are positive, investors will likely see AI stocks continue to climb higher in sympathy with it.
As for PLTR stock, it’s also experiencing incredibly heavy trading on Tuesday. As of this writing, more than 50 million shares of the company’s stock have changed hands. That’s already above its daily average trading volume of about 47.8 million shares.
PLTR stock is up 7.5% as of Tuesday morning and is up 130.4% since the shares of the year.
Investors looking for more of the most recent stock market news will want to keep reading!
InvestorPlace has all of the biggest stock market stories that traders need to know about on Tuesday! A few examples include the latest details concerning NVDA, ChargePoint (NYSE:CHPT), and Plug Power (NASDAQ:PLUG) stock today. You can catch up on all of this news with the following links!
More Tuesday Stock Market News
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
