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Welcome back to Theta Bandits Top Pick Tuesday, where we search the markets to bring you fresh ideas that could be a potential winner in any portfolio. Closing in on the end of the year, this week we are showcasing the 2024 Top Pick with the greatest percentage gain of the year from time of pick until today. This was only presented back in August and has blown away expectations.
Top Pick – Palantir Technologies, Inc.
Palantir Technologies, Inc. (PLTR:NASDAQ)
Price at Preparation: $29.38 (August 12th, 2024)
Price at Update: $75.75 (Dec 16th, 2024)
Gain/Loss: +158%
Update
Palantir Technologies, Inc. (PLTR:NASDAQ) had the thesis of “an alternative way to take advantage of the AI trend” through leveraging AI in their platform to provide data analytics solutions and noted for being the platform of choice for government contracts. While you would imagine with an AI play, the winner should be the likes of NVDA – post their split (in June) we called out a play which has done ok, but pails in comparison. PLTR has continued to constantly beat on quarterly earnings reports, signed a deal with Microsoft for the use of the Azure platform in their toolset to provide data analytics solutions, been moved from the NYSE to the NASDAQ exchange and has proved to be the big winner of the year at the current price of $75.75 USD with a 52-week high of $80.91 USD.
Looking at the updated chart, from August 12 onward we have in purple the original date for the analysis, in yellow the previous targets, which were all surpassed before the end of October, and finally in green the big continuation up. With 2024 coming to a close we are hoping to find another winner to beat this next year. But that is a tall order!
Risk
The goal is to grow capital by securing profits along the way and limiting losses. Make sure to plan to trade within your risk tolerance, allowing time for success while updating limits and exit points to mitigate risk. The has been a best-case scenario with surpassed expectations and profit should have been secured along the way, leaving only profits to do the heavy lifting and reducing the risk of the trade.
If you’ve been finding our picks helpful, imagine what trading live holds. You know what to do 👇
Disclaimer: This article is for informational and educational purposes only, not investment advice. We recommend researching and consulting with a financial advisor before making investment decisions. All actions based on this information are at your own risk.
