There was anticipation for the debut of tech company Plantir, and expectations were not betrayed.
The landing on Wall street took place on September 30 with a direct public offering (DPO). The shares initially traded at $10 each, up 30 percent on the day, bringing the stock to a valuation of $22 billion.
WHO PLANTIR IS.
Founded in 2003 and based in Denver, Plantir specializes in creating platforms for data mining, Big Data Analytics. Platforms that are usable in a variety of fields such as security and surveillance solutions.
This is its main characteristic, so much so that it saw the CIA among the very first investors and has a long history of controversial and secret government and Pentagon contracts.
Palantir’s clients include pharmaceutical company Merck and United Airlines.
United Airlines uses software created by Palantir to optimize flight routes. Because of the sensitivity of the data processed and its use, the company’s activities have often attracted a range of criticism and attacks.
In addition to the type of business it conducts, this company has also been much talked about because in 17 years of operation it has never generated a profit; on the contrary, in 2019 it posted losses of $580 million. In the first six months of 2020, revenue, generated by 125 large customers, increased by nearly 50 percent to 481 million. The liabilities were 146 million. In the whole of 2019, it lost 580 million on revenues of 743 million. Fifty-three percent of revenue is related to government commissions.
Despite this, it is investing so much in research and development, aiming for long-term goals and not short-term profitability. Hence the debut of the tech company Plantir on the stock exchange and big chances for growth. Palantir’s document submitted for listing says,“thanks to our software, even people who have never written a line of code will be able to manage and analyze big data.”
The company itself said in a document before the listing that sales are expected to spurt 42 percent this year and reach $1.06 billion. Revenues rebounded 25 percent to $742.6 million. By 2021, Palantir expects sales growth of more than 30 percent.
With this in mind, the stock could be an interesting “bet to bet on” for the future, although given a certain level of risk, a small amount of money should be allocated.