Palantir Technologies Inc. (NYSE: PLTR) began trading as a member of the S&P 500 index on September 23, 2024. Inclusion in the index was a long-time goal of Palantir. It's also a significant milestone for retail investors who have largely driven the growth of PLTR stock since it went public via a direct listing in 2020.
Palantir is one of the most discussed, and polarizing, technology stocks in 2024. One reason for that is because PLTR stock is also one of the best-performing stocks in 2024. It's up 114% as of this writing.
This has many investors who have been on the sidelines wondering if now is a good time to start a position. And if you already have a position, is now a time to "load the boat?" It's not an easy question to answer, but with so much news circulating around the company, it's a good time to assess where things stand.
Institutions Will Buy More PLTR Stock
One of the most significant benefits of inclusion in the S&P 500 is that institutional investors will have to start buying PLTR stock. To be fair, institutional buying has outpaced selling by an almost three-to-one margin in the last 12 months. However, any index fund manager using the S&P 500 as its benchmark must ensure PLTR stock is one of its holdings.
The ...
