Palantir Shares Close Below $200 After Trading Above Threshold

Palantir Technologies shares rose 2.4% to close at $198.78 on Oct. 8 after trading above $200 during the session, leaving investors focused on the gap between the company’s operating growth and its share price.

The stock opened at $199 and climbed to $204.44 before falling to an intraday low of $195.65. It finished at 4 p.m. ET (8 p.m. UTC) below the $200 level but higher than the prior close.

Palantir’s second-quarter revenue rose 93% year over year to $1.94 billion, up 19% from the previous quarter. U.S. commercial revenue increased 149% to $764 million, while U.S. government revenue rose 90% to $809 million.

The company reported adjusted earnings per share of $0.41 and closed 220 deals worth at least $1 million during the quarter. It also raised its full-year 2026 revenue outlook to between $8.150 billion and $8.158 billion.

The trading session placed the stock’s strong business growth alongside a closely watched price threshold. Palantir shares moved above $200 during the day but did not maintain that level by the close.