Palantir Technologies stock (NASDAQ: PLTR) has had a solid run, rising by almost 4x since the beginning of the year to about $66 presently.

Dubbed the Messi of AI growth, Palantir Technologies Inc. (NASDAQ:PLTR) has had a remarkable couple of years. The stock soared more than 45% this month alone, demonstrating how far it has come from being a government-focused contracting and consulting firm to an AI-driven data analytics software company.

In short, history says Palantir shareholders could see upside between 11% and 17% during the year after the company is added to the Nasdaq-100. Of course, that's hypothetical at this point because Palantir hasn' yet been selected to join the index.

In a week when the broad market rally lost some steam, Palantir Technologies Inc. (NYSE: PLTR) ended the week on a tear. PLTR stock was up 9.13% at the close of trading on November 15. The catalyst for the price movement was the announcement that Palantir was leaving the New York Stock Exchange and would be listed on the NASDAQ exchange.

Now the software company is anticipating entry into a new index, and investors are celebrating the move.  Palantir said Thursday that it plans to switch its listing to the Nasdaq from the New York Stock Exchange,

At a market cap of $136 billion, Palantir is now one of the world's largest defense contractors. The aforementioned Lockheed Martin has a market cap of $134 billion, with competitors, such as RTX Corporation, now one of the few stocks with larger valuations than Palantir.

Palantir Technologies shares jumped Friday after the analytics software provider said it is shifting its listing to the Nasdaq from the New York Stock Exchange.

Palantir said it will transfer its stock to the Nasdaq Global Select Market, switching from the New York Stock Exchange on Nov. 26.

Artificial intelligence stocks are soaring in 2024, but only one is the better AI stock between Nvidia (NASDAQ: NVDA) and Palantir (NYSE: PLTR). Start Your Mornings Smarter! Wake up with Breakfast news in your inbox every market day.

Palantir Technologies (PLTR) is an artificial intelligence (AI)-powered tech stock that has captured Wall Street's imagination in 2024. With a market cap of nearly $150 billion, Palantir stock has returned 280% to shareholders year-to-date.

There's plenty of evidence that Palantir's (NYSE: PLTR) stock is in a bubble. History is not on Palantir's side, and many companies have traded around the lofty expectation its stock currently trades at,