This is in no way market advice. Do not take advice from me, and as always DYOR.
It looks like r/wallstreetbets is at it again. This time it's on Palantir Technologies Inc. . What is Palantir? According to Wikipedia:
"Palantir Technologies is a public American software company that specializes in big data analytics. Headquartered in Denver, Colorado, it was founded by Peter Thiel, Nathan Gettings, Joe Lonsdale, Stephen Cohen, and Alex Karp in 2003."
I don't dabble much in the stock market but I'm betting on this one as a way to gain some extra funds towards some crypto altcoins that I really think are going places in 2021.
So, will it work? Well, obviously no one can tell at this point but it has taken a sharp rise today after a 6 day losing streak. Also of note, Cathie Wood of Ark Invest just acquired $127 million worth of the stock. This development will definitely be of interest over the coming days and weeks and I picked up some shares today at $28.90. I might have missed a little better opportunity just prior to my grab but I think there's a lot more to come if the stock can push past a few resistance points over these next coming days. The first of those being the $30 mark, which with a little luck and of course support could come very fast.
Of course with any stock there is a risk. Many believe there is a chance that millions of shares could hit the market due to a selloff after a lockup was just lifted. although traditionally this would worry me, I'm hodling to the belief that the buzz will prevent the selloff and likewise initiate even more support than we're already seeing.
If you haven't scooped up any yet and want to, time may be running out. Do so at your own risk, but if you choose to then cross your fingers along with us to the moon and never return.
“There is surely nothing other than the single purpose of the present moment. A man's whole life is a succession of moment after moment. There will be nothing else to do, and nothing else to pursue. Live being true to the single purpose of the moment.”
― Yamamoto Tsunetomo - Hagakure
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