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Why Palantir Stock Popped on Thursday

Shares of big data-for-defense company Palantir Technologies (NYSE: PLTR) soared in Thursday trading after the defense contractor announced that the U.S. Space Systems Command — a division of the U.S. Space Force — has awarded it a big follow-on contract for Battle Management Command, Control, and Communications (BMC3). Palantir stock is up a solid 10% as of 1:20 p.m. ET in response. Palantir says its contract has it providing data-as-a-service (DaaS) to the U.S. Air Force, Space Force, and NORAD-NORTHCOM (North American Aerospace Defense Command and the U.S. Northern Command), helping “to integrate, clean, share, and leverage data to help make decisions on personnel management, strategic and operational planning, cross-space situational awareness, and collaboration across combatant commands.”


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