There are those who would surely argue that Palantir Technologies (NASDAQ: PLTR) is as volatile and risky as any cryptocurrency. And maybe they're right. The data mining company is growing fast, but the company's valuation is a huge red flag. Its price-to-earnings (P/E) ratio is 603, with a forward P/E of 204 and a price-to-sales (P/S) ratio of 130. Those numbers are just eye watering. I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. Stock price PLTR advanced to $24.28 amid strong market breadth and positive Nasdaq trends. The upcoming earnings call is likely to provide catalysts given management’s focus on expanding AI capabilities into commercial logistics.
