Palantir stock’s huge rise this year has earned it a spot on another stock index.
Palantir Technologies (PLTR 3.92%) stock investors got some good news to start their weekends. On Friday at 8 p.m. ET, Nasdaq (NDAQ -0.93%) announced that the artificial intelligence (AI)-powered software company is being added to the Nasdaq-100 index.
This move by Nasdaq — which owns and operates its namesake stock exchange and others — is part of its annual reconstitution of the Nasdaq-100 index, which comprises 100 of the largest non-financial companies listed on the Nasdaq Stock Market.
In 2024, Palantir stock has soared 343% through Dec. 13 versus the S&P 500‘s 29% return. So, it’s easy to understand how a huge, roughly corresponding increase in Palantir’s market cap has landed it a place on the Nasdaq-100.
The timing of the news release was strategic, as 8 p.m. ET is when after-hours stock…
