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How to buy Palantir stock (PLTR)

This data-driven software provider has filed a direct listing — here's how investors can buy in.

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Palantir is now available to purchase on the New York Stock Exchange. Here’s how you can buy in.

WATCH: Should you buy Palantir stock?

Watch our short video in which we give you the breakdown on what Palantir’s IPO entails, and what to think about if you’re considering buying shares.

How to buy Palantir stock when it goes public

To buy Palantir stock, you’ll need to have a brokerage account.

  1. Compare share trading platforms. If you’re a beginner, look for a platform with low commissions, expert ratings and investment tools to track your portfolio. Narrow down top brands with our comparison table.
  2. Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and bank information. Fund your account with a bank transfer, credit card or debit card.
  3. Search for Palantir. Find the stock by name or ticker symbol: PLTR. Research its history to confirm it’s a solid investment against your financial goals.
  4. Purchase now or later. Buy immediately with a market order or use a limit order to delay your purchase until Palantir reaches your desired price. To spread out your purchase, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
  5. Decide on how many to buy. Weigh your budget against a diversified portfolio that can minimize risk through the market’s ups and downs. You may be able to buy a fractional share of Palantir, depending on your broker.
  6. Check in on your investment. Congratulations, you own a part of Palantir. Optimize your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.

What we know about the Palantir direct listing

Palantir filed an S-1 registration form with the U.S. Securities and Exchange Commission (SEC) to publicly list its shares on the NYSE. The stock launched under the ticker symbol PLTR on September 30.

But Palantir isn’t offering a traditional IPO. Instead, the stock will be offered as a direct listing, which means it’s being sold by current Palantir investors rather than being created as fresh stock. And multiple reports suggest that Palantir plans to lock up 80% of its shares until December 31, 2020.

Palantir is now available to purchase on the New York Stock Exchange. To invest, you’ll need a brokerage account.

How does a lockup work and who does it affect?

Companies make use of lockup periods to keep company insiders from flooding the market with shares and destabilizing the stock price. They tend to last between three to six months and typically only apply to insider shareholders and company employees.

New investors won’t be affected — at least not at first. A lockup period may help stabilize the stock in the months following its release, but once the lockup is over, all bets are off.

For an example of what can happen following a lockup period, investors need to look no further than Uber. Six months after the launch of its stock, Uber’s lockup period came to a close and the stock hit record lows as early investors and employees seized their opportunity to offload the stock.

If Palantir goes forward with its lockup period, investors should be prepared for potential price volatility when the period ends on December 31, 2020.

Palantir’s financials

Palantir is trying to raise another $1 billion in fresh capital outside its public offering, according to CNBC. To date, Palantir has raised $2.6 billion and Forbes suggests the company could be worth as much as $30 billion. According to the S-1 filing, the company intends to list Class A, Class B and Class F stock. The Class A common shares will be available on the NYSE.

From 2018 to 2019, the company grew from $590 million to $740 million, but Forbes warns that Palantir is deeply loss-making, reporting net margins of -78% in 2019.

Like all investments, purchasing stock in Palantir is far from risk-free. The company’s financial reporting is ambiguous, and the potential lock-up period could tie up investor funds for months on end. Investors will need to perform their own due diligence and examine Palantir’s financial history in greater detail.

Palantir compared

Palantir is a software firm that specializes in big data analysis. It was founded in 2003 and is headquartered in Denver, Colorado. It collects and analyzes data for private enterprises and government agencies, including the United States Intelligence Community (USIC) and the Department of Defense. Its involvement in national security and government surveillance, coupled with its towering valuation despite never reporting a profit, has earned it quite the reputation.

Palantir is not an accredited business with the Better Business Bureau (BBB) but receives an A rating based on the BBB’s criteria that factors in length of time in business, among other considerations.

Results of similar public offerings

Here’s how some similar software firms performed after going public:

Datadog (DDOG) is a SaaS-based data analytics platform that offers data monitoring services for cloud-based applications. It launched on the NASDAQ in September 2019 at $36.15. It saw moderate growth in the six months following its release but began to dramatically climb in April 2020. It peaked at $96.41 in July 2020.

Splunk (SPLK) is a software firm that monitors machine-generated big data from its headquarters in San Francisco. It went public on the NASDAQ in April 2012 trading at $36.20. Outside a brief spike to $92.75 in 2014, the stock didn’t begin to truly gain traction until early 2018. It saw an all-time high of $211.32 in July 2020.

Verint (VRNT) is an analytics company that specializes in security, surveillance and business intelligence software. It went public on the NASDAQ in 2002 trading at $12.30. With several notable ups and downs over the years, the stock peaked at $64.71 in May 2015.

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Disclaimer: The value of any investment can go up or down depending on news, trends and market conditions. We are not investment advisers, so do your own due diligence to understand the risks before you invest.

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