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Why Palantir Technologies Stock Popped on Thursday

Why Palantir Technologies Stock Popped on Thursday

Shares of Palantir Technologies (NYSE: PLTR) popped higher on Thursday morning, defying the general market downturn. The stock jumped as much as 4.9% but was up about 1.4% as of 3:12 p.m. ET -- even as the three major indexes got crushed, as the S&P 500 and the Nasdaq Composite plunged 2.6% and 3.5%, respectively. The catalyst that sent the machine learning software and data mining specialist higher was news the company will continue its work with the U.S. Army on several fronts.