Now, I reckon there’s a stir ’bout Palantir Technologies ([PLTR +5.40%]) stock. Jumped a bit, it did, ’bout 5% this mornin’. Seems a fella over at Wedbush, Dan Ives by name, still thinks it’s a right good investment, predictin’ a price of $230 within the year. A 45% profit, he says. Why, that’s enough to make a man consider takin’ up speculation again – though I’ve seen enough booms and busts to know better than to trust such pronouncements entirely.
The Business of Knowin’ Things
Palantir, you see, provides these… well, they call ’em IT services. Seems to me they mostly provide folks with the means to know things – things about governments, defense, healthcare, even law enforcement. They’re sellin’ what amounts to digital spyglasses to the powers that be. And they’re doin’ a brisk trade, accordin’ to Ives. He believes they’ll be snatchin’ up more contracts from the federal government, latchin’ onto these high-priority projects like a tick on a hound dog. It’s a clever scheme, if you ask me – gettin’ paid to help the government spend money. A true American pastime.
A Penny Saved is a Penny… Overvalued?
Now, the stock’s had a bit of a tumble lately, folks gettin’ nervous ’bout this artificial intelligence craze. Down 23% from its peak, it is. But it’s still up a good 56% over the last year. Ives thinks it’ll climb right back up, surpassin’ its previous high. Me? I’m a bit more cautious. I’ve seen too many bright, shiny things turn to dust.
The company is growin’, no doubt. Analysts reckon earnings will grow 47% a year for the next five years. But here’s the rub: the stock is priced like it’s already conquered the world. A market capitalization of $360 billion? Why, that’s enough to buy a small country! And at 239 times trailing earnings, you’re payin’ a mighty high price for a promise. It’s like buyin’ a gold watch made of tin.
Even after a 23% drop, I wouldn’t be surprised if this stock has a bit further to fall. There’s a heap of speculation built in, and speculation, like a house built on sand, rarely lasts. A man’s gotta be careful where he puts his money, lest it vanish into thin air. It’s a lesson I learned the hard way, and one I’m always happy to share.
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2026-03-23 17:13