If You Invested $1,000 In Palantir Stock At Its COVID-19 Pandemic Low, Here's How Much You'd Have Now

Zinger Key Points
  • Palantir's stock began trading in the midst of the pandemic, in September 2020.
  • The stock hit an all-time high of $45 in late January 2021, before dropping dramatically.

Investors who bought stocks during the COVID-19 market crash in 2020 have generally experienced some big gains in the past two years. But there is no question some big-name stocks performed better than others since the pandemic bottom.

Palantir's Bumpy Ride: One company that has been a disappointing investment in the past two years has been Palantir Technologies Inc PLTR.

Palantir made its public debut on Sept. 30, 2020, and IPO investors have underperformed the market in the 18 months that have followed.

Palantir’s Big Debut: Data analysis software pioneer Palantir was founded in 2003 and made the move to go public 17 years later. It priced its direct listing at $7.25 per share, but the stock opened its first day of trading at $10.

On its first day of trading, Palantir shares traded as high as $11.42 before closing the day at $9.50. The stock spent much of its first month under its $10 opening price, at one point dropping to its 2020 low of $8.90. In late October, Palantir shares took off like a rocket. Palantir hit $20 in late November and $30 just days later.

Palantir hit its 2020 high of $33.50 in November before cooling off to close out the year. By the end of December, the stock was back below $25.

Related Link: If You Invested $1,000 In Alibaba Stock At Its COVID-19 Pandemic Low, Here's How Much You'd Have Now

The turn of the calendar year marked the beginning of a rally to new highs for Palantir in early 2021. In fact, the stock made is as high as $45 in late January after becoming a darling of Reddit’s WallStreetBets community.

2022 And Beyond: Unfortunately, a broad market sell-off in high-growth tech stocks has heavily weighed on Palantir shares in the past year.

Following a weak first-quarter earnings report in May, Palantir stock is now trading all the way back down at $6.85.

In fact, investors who bought Palantir on the day it hit its 2020 pandemic low and held on have lost a significant portion of their investment. In fact, $1,000 in Palantir stock bought on Oct. 6, 2020, would be worth about $767 today.

Looking ahead, analysts are expecting Palantir's stock to rebound significantly in the next 12 months. The average price target among the nine analysts covering the stock is $11, suggesting 54.3% upside from current levels.

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