Palantir’s 2,500% Run Has Bulls Scrambling to Justify Value

Palantir Technologies Inc.’s meteoric rise is pushing the company’s valuation further into record territory, forcing bullish investors to bank on increasingly robust future growth to justify its current level.

Shares of the data software company in early Monday trading retreated slightly from Friday’s all-time high close, shedding as much as 2%. Still, the stock has gained close to 2,500% since its 2020 debut. It’s up almost 150% this year, a rally underpinned by the company’s growing use of artificial intelligence, business ties to the US government and most recently a stellar earnings report.