Palantir, the US software company famous for its work with intelligence agencies and the military, has traced a highly volatile path in its brief life as a public company.
Since coming to Wall Street four years ago, chief executive Alex Karp has often complained that the stock market doesn’t understand his company.
Investors were put off by a long history of red ink and seemed unimpressed with the pace at which it was trying to move beyond its roots in government business to become a mainstay of corporate IT. By early last year, the shares had slumped back below their price at the time of listing.
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