Palantir Shares Up 3% on Trump Praise, ARK Invest Buy

Palantir Technologies Inc. shares rose more than 3 percent in early trading on Monday, rebounding from a recent selloff as investor confidence returned amid endorsements from former President Donald Trump and buying by ARK Invest. The stock, which closed at 128.06 on Friday, climbed to 132.68 by midmorning in New York, with trading volume exceeding 65 million shares, up 28 percent from the average.

The uptick followed a volatile week for Palantir, a data analytics and artificial intelligence software provider, which has declined about 20 percent year to date. Shares dropped 7 percent on April 9 after investor Michael Burry posted, then deleted, a social media claim that rival Anthropic was surpassing Palantir in enterprise AI adoption, citing Anthropic's reported annual recurring revenue of $30 billion. Traders worried that Anthropic's managed agents could challenge Palantir's software-as-a-service model. Broader market pressures, including AI sector rotation and valuation scrutiny, contributed to the pullback from a 52-week high of 207.18 reached in November 2025.

Renewed optimism stemmed from Trump's Truth Social post praising Palantir's "great war fighting capabilities and...