Palantir Technologies Inc. (NYSE:PLTR) shares are trading higher on Friday.
Yesterday, the firm announced that it will transfer the listing of its Class A Common Stock to the Nasdaq Global Select Market from the New York Stock Exchange.
The company expects to begin trading as a Nasdaq-listed company on November 26.
According to Benzinga Pro, PLTR stock has gained over 196% in the past year. Investors can gain exposure to the stock via REX AI Equity Premium Income ETF (NASDAQ:AIPI).
Meanwhile, Palantir held its first-ever Developer Conference, DevCon 2024, on November 13th-14th, bringing together 150 top commercial and government builders, as well as technical leaders.
The two-day event showcased a series of product launches, hands-on development opportunities, and a competitive environment aimed at accelerating innovation in data and technology.
A key highlight of the conference was the public launch of new features for AIP for Developers.
This marks a significant step in Palantir's strategy to streamline backend development, enabling faster and more efficient transitions from prototype to production.
Among the new releases were updates such as Ontology SDK 2.0, enhanced Platform APIs, and the Workflow Builder.
Palantir has been one of the hottest stocks of the year, having gained approximately 245% year-to-date, driven by the company's positioning in the AI space.
Palantir shares really took off at the beginning of November after the company reported strong quarterly results driven by "unrelenting" AI demand.
Revenue jumped 30% year-over-year on continued strength in the U.S. customer count grew 39% year-over-year after the company closed 104 deals worth over $1 million during the quarter.
Price Action: PLTR shares are trading higher by 6.31% to $62.91 at last check Friday.
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