Why Palantir Stock Is Surging Today

Palantir Technologies Inc PLTR shares are trading higher Thursday after the company announced an expanded partnership with U.S. Space Systems Command.

U.S. Space Systems Command has increased its existing contract with Palantir by nearly $54 million, bringing the total value of the contract to more than $175 million. The contract extension ensures that Palantir's data and decisions platform will continue to support national security objectives through March 2023.

Palantir's Data-as-a-Service platform allows mission areas within the Air Force, Space Force and NORAD-NORTHCOM to integrate, clean, share and leverage data to help make decisions. The extension will include capabilities for decision support tooling for echelon planning and continuity of leadership operations.

Palantir provides organizations with solutions to manage large disparate data sets in an attempt to gain insight and drive operational outcomes.

See Also: Why Microsoft Stock Is Falling

PLTR Price Action: Palantir has traded between $6.44 and $29.29 over a 52-week period.

The stock was up 5.56% at $8.93 at press time, according to data from Benzinga Pro.

Photo: Cory Doctorow from Flickr.

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