Palantir stock rallies on $823 million Army contract

Dow Jones2021-10-06

MW Palantir stock rallies on $823 million Army contract

Palantir Technologies Inc. $(PLTR.UK)$ shares rallied in the extended session Tuesday after the data-software company said it was selected for a U.S. Army intelligence program contract. Palantir shares surged 5% after hours, following a 0.2% rise to close at $23.21. The company said it won a $823 million contract to provide the Army with its Gotham platform, which is "an operating system for defense decision making and is specifically designed to connect the dots between disparate sources." Palantir said the platform will "support Army Intelligence users worldwide with a globally federated Intelligence data fabric and analytics platform spanning multiple security classifications."

-Wallace Witkowski

$(END)$ Dow Jones Newswires

October 05, 2021 16:44 ET (20:44 GMT)

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KL8388
2021-10-06
KL8388
Long term. Hold

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