Palantir Technologies Co., Ltd. 
PLTR announced a $178 million deal with the U.S. Army on Wednesday, and retail investors made the stock one of the top trending tickers on Reddit's WallStreetBets. Let's take a look at what the retail industry is saying.
Retail chimes: Palantir has won several large Army contracts in the past, including a $250 million contract last September and a $299 million contract extension in 2022. However, u/MisterMasterCylinder pointed out the unusual wording of Wednesday's press release announcing the AI platform company's latest deal.
“The stance of this product is promising and somewhat unique. It was awarded for prototype development using OTA privileges, which (potentially) provides a path to a full production contract without completion.” “I don't know the details about this,” but it's clear that if Palantir's prototype is successful, it could lead to larger production deals in the future,” u/MisterMasterCylinder wrote in r/WallStreetBets I guessed it in the post.
According to Palantir's press release, the redditor correctly pointed out that the contract “covers the development of 10 TITAN prototypes.”
“This is just a prototype contract. If it leads to a production contract, we expect it to be worth several times this,” added u/MisterMasterCylinder in the thread.
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Another Reddit user u/Future-Muscle-2214 responded to the post and talked about Wednesday's market cap increase.
u/Future-Muscle-2214 said, “Following a $180 million deal, we made $3.7 billion in premarket profits,” highlighting Palantir's surge after the latest deal announcement in the same thread did.
Palantir stock is rising after Wednesday's heavy trading and now has a market cap of $52.685 billion. Individual investors are keeping an eye on the company's stock, which has already “soared” by more than 50% in 2024. Palantir stock has more than tripled in the last year, driven largely by the company's positioning in the AI space.
PLTR price action: At the time of publication, Palantir stock was up 9.05% at $25.96, according to Benzinga Pro.
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