Palantir is extending its lead as the best-performing stock in the S&P 500 in this year on Friday, as shares approach record highs on reports that the White House is calling for record defense spending as part of the looming budget negotiations.
That’s a far cry from reports that the Pentagon was due for draconian, DOGE-like spending cuts that creamed Palantir and other defense stocks during the early phase of the market sell-off in February.
SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.
SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.
Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."
The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.
Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.
