Defense technology stock Palantir has accumulated a cumulative increase of more than 290% this year, surpassing Nvidia to become the strongest component of S&P. The company recently announced that it will transfer its listing to NASDAQ, and is expected to join the NASDAQ 100 Index as an investment target for many large ETFs.
This year, defense technology stock Palantir, the best-performing stock in the S&P 500 index, announced a “switch” to the NASDAQ index.
Recently, Palantir announced that it will transfer its stock listing from the New York Stock Exchange (NYSE) to Nasdaq (Nasdaq) on November 26, and its common shares will continue to be traded under the “PLTR” US stock code.
Once the “battlefield” changes, Palantir is expected to be eligible to join the NASDAQ 100 Index constituent stocks. This move may raise the company's popularity and attract new investors.
Sherwood analysis notes that this year, the company's management began to realize the benefits of being included in the Nasdaq 100 Index. This is critical. Once included in the index, many “passive” investment products, including ETFs, mutual funds, etc. will buy this stock based on the index's benchmark, regardless of their views on the company's prospects or governance. More importantly, they can't sell this stock unless the stock is delisted or removed from the index.
The Nasdaq 100 Index is the foundation for many large ETFs, and Palantir is expected to be included in Invesco QQQ Trust (QQQ for short), one of the largest ETFs in the world. The fund's asset management scale exceeds 300 billion dollars.
Palantir was only included in the S&P 500 Index in September of this year. It is also the best-performing constituent stock in the index this year, even surpassing Nvidia and Vistra Corp.
Last Friday, Palantir closed up 11% to 65.77 US dollars, a record closing high, with a cumulative increase of more than 290% this year.
![Big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20241118/0-c19c51705828d7b17a4c366f9bbee27a-0-22f74a5c9bc96ceea12470db8a63c644.png/big)
![Big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20241118/0-c19c51705828d7b17a4c366f9bbee27a-1-32656225b90b90ce6e94cb36950ced14.png/big)
Palantir mainly serves customers such as military, government, and financial institutions, and is particularly prominent in the field of defense and security. By integrating multi-source data and advanced analytical technology, Palantir provides key decision support and security solutions for military and intelligence agencies.