Palantir stock jumped 50% since start of Ukraine war

Palantir (PLTR.US) is one of the largest providers of security and data analytics systems to government and private clients. The company remains a prime contractor for data handling systems for US federal agencies and entered into a partnership with Carashoft Technologies on 1 April 2022:

• Carahsoft on 31 August 2020 was included in the Department of Defense's $13bn program which aims to provide software and enterprise technical services to the US Army, the company has received a number of other funding for space mission systems and information systems implementation,

• Partnership with Carahsoft Technologies is a strategic move and will potentially expand the company's influence in the US Department of Defense and NASA through its sales organization;

• Palantir also launched its first AI-enabled satellite on 1 April via Elon Musk's SpaceX-owned Falcon 9 rocket, the company intends to focus on space exploration in the future;

• Palantir's software has, among other things, helped distribute vaccines against COVID 19, enables automated Pentagon decision-making based on processed Army data, and assists intelligence operations and federal security institutions; 

• This technology may face regulatory problems due to the involvement of the Department of Defense, which may want to stop its commercialisation and foreign distribution;

• Meanwhile, Palantir is also active in the civilian space focusing on data analytics and cyber security;

• Palantir's stock still trades nearly 60% below it's all-time high from February 2021,

• Sell-off accelerated after company posted mixed Q4 2021 results and expressed concerns around revenue growth,

"Partnering with Carahsoft and its resellers will allow Palantir to fully leverage the value that the channel ecosystem brings, offering the government the ability to work with their trusted partners and have more options on how they can procure our joint solutions," said Jennifer Talley, Head of USG Channel and Distribution at Palantir.

Lauren Penneys, Head of Sales, U.S. Government at Palantir, added: "We are thrilled to partner with Carahsoft, as we invest in growth and establish new routes to market that will increase access to Palantir's best-in-class software."

"With the addition of Palantir to our offerings, Government agencies now have access to Palantir’s big data solutions to transform how they achieve their goals," said Maryam Emdadi, Carahsoft Vice President. "We look forward to working with Palantir and our resellers to deliver mission critical technology to the government, and help agencies advance their digital modernization strategy."

Palantir (PLTR.US), D1 interval. The share price has been in a downward trend since the end of September 2021 and fell nearly 75% from recent highs. On the first day of Russia's invasion of Ukraine, prices plunged to $9.30,  however, since then buyers are trying to erase recent losses. Currently one can observe a double-bottom pattern and a breakout above the upper limit of the downward channel. Price also broke above the local resistance around $14.00, which coincides with the 23.6% Fibonacci retracement. If current sentiment prevails, upward move may accelerate towards$ 17.5 which is marked with 38.2% retracement. Source: xStation5