Ok ok ok. Sorry I get it now, not like completely but more. When I saw Palantir doing a direct listing I was thinking the company would hit the public market at over $200 a share, maybe over $100 a share, at least $50 right? Definitely not fucking 10 dollars that’s for sure. However, the company did disclose what was actually happening and the amount of shares out in the public is far more than what probably many thought. The cloud-based data security company has come pretty far but the debut might mean they have more hills to climb.
Palantir went through a direct listing and has about 1.65 BILLION shares outstanding right now. Obviously with the number of shares that could be acquired by the public market puts the stock at a lower price than maybe expected. The company has been trading privately for quite a while, the news of the stock hitting the public market came at exactly the same day that a large software time management company debuted on the stock market, that company was Asana. Not to say that Asana stole Palantir’s limelight but that could be the reason the stock shot to $11 dollars and ended at about $9 a share on the first day of trading. Not the most ground breaking trading day for what was supposed to be possibly “the biggest software IPO of 2020” yeah, not really showing out there. The market gave the same reaction as my senior prom date did after I busted early. They were not too happy, so the stock did what the stock probably should. It dropped.
Palantir had pretty big ambitions, I mean it was supposed to be a major win. Now I will never judge a company after one single fucking day of trading but the build up like most of 2020 IPO’s, Palantir has been hyped up to end pretty shitty on the way back down. Palantir gave out the impression to be huge, but it was just like a bust of an NFL draft pick, hasn’t lived up to the hype.
All this bashing of Palantir does not mean the company is shitty or not worry of going up in price. The company founded back in 2003 has come a long way. If they focus on building out a customer base and combine with more contracts from the government, they could be poised to show the market that they have some actual grit, but we shall see. Palantir is coming to a moment where they can jump up and be great, or just be another fart in the wind. It’s up to you babyyyyyyy!
Anyway, that’s my take on it. Until next time. -GS
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