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It’s perhaps the biggest question plaguing the market right now: are shares of big data analytics specialist Palantir (PLTR) overvalued? On the surface, it’s difficult to disagree with the notion. As of this writing, it’s on pace to clock a return of possibly 40% for the business week ending Feb. 7. That’s just wild but it also means a correction could be coming. Still, you’ll want the data to be the ultimate guide.
Recently, investor and entrepreneur Cathie Wood — through her ARK Invest fund — made waves by selling shares of PLTR stock. In fact, Wood has been hitting the sell button prior to Palantir’s blistering fourth-quarter earnings report, which sparked the aforementioned massive rally in PLTR stock. While the software specialist’s relevance cannot be denied, the remarkable enthusiasm warrants sober reflection: chase too hot of a hand and investors can get burned badly.
