Palantir stock has risen seven-fold since its $10 IPO, showcasing strong market confidence despite initial skepticism about its valuation compared to traditional defense stocks.
Over the last 5-6 years, Palantir's revenues have quadrupled, increasing from $595 million in 2018 to $2.65 billion, indicating rapid growth and demand for its services.
Unlike many meme stocks, Palantir is now solidly profitable, having transitioned from losses five years ago to substantial earnings, demonstrating a strong business model.
Although initially perceived as overvalued at 330 times earnings compared to more traditional defense companies, the growth and profitability trends suggest Palantir's market position is legitimate.
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