Breaking news

Biden taps Yellen to lead barrier-breaking economic team ...Read More

White House ‘Social Media Summit’: No Facebook, No Twitter, No Transparency CopyRead more White House ‘Social Media Summit’: No Facebook, No Twitter, No TransparencyRead more White House ‘Social Media Summit’: No Facebook, No Twitter, No TransparencyRead more White House ‘Social Media Summit’: No Facebook, No Twitter, No TransparencyRead more White House ‘Social Media Summit’: No Facebook, No Twitter, No TransparencyRead more White House ‘Social Media Summit’: No Facebook, No Twitter, No TransparencyRead more Twitter to Label Tweets by Leaders Who Break Its RulesRead more Twitter to Label Tweets by Leaders Who Break Its RulesRead more Twitter to Label Tweets by Leaders Who Break Its RulesRead more Twitter to Label Tweets by Leaders Who Break Its RulesRead more

Palantir to begin New York trading on September 30

Print Friendly and PDF

Sep 23, 2020 - 07:20 AM

WASHINGTON — Data analysis specialist Palantir announced on Tuesday it would begin trading on the New York Stock Exchange on September 30 in what could be one of the biggest market debuts since Uber.

The secretive company which sells software used by governments and large firms worldwide said in a statement it “expects that trading of shares of its Class A common stock on the New York Stock Exchange will commence on Wednesday, September 30, 2020.”

In an earlier filing, Palantir, which hasn’t turned a profit, indicated it would go public via a direct listing without raising new funds, listing its shares at $0.001 on the exchange on or around September 29.

That filing suggested a valuation of some $10 billion, down from a private value as high as $25 billion, according to Renaissance Capital.

Founded in 2003, the Colorado-based company has said its software is used in more than 150 countries, and that it took in revenue of $742.6 million last year while logging a net loss of $579.6 million.

In the first half of this year, Palantir reported that it has generated $481.2 million with a loss of $164.7 million.

It stressed its mission of working with military and intelligence agencies and revealed it plans to trade under the symbol “PLTR” in New York.

Created after the September 11, 2001 terror attacks with initial funding from a CIA venture-capital unit, Palantir software is used by institutions ranging from defense agencies to companies in the energy, manufacturing and healthcare sectors.

Palantir’s predictive analytics platform reportedly helped the US military locate Osama bin Laden and track weapons movements in the Middle East.

  • bio
  • twitter
  • facebook
  • latest posts

MAORANDCITIES.COM uses both Facebook and Disqus comment systems to make it easier for you to contribute. We encourage all readers to share their views on our articles and blog posts. All comments should be relevant to the topic. By posting, you agree to our Privacy Policy. We are committed to maintaining a lively but civil forum for discussion, so we ask you to avoid personal attacks, name-calling, foul language or other inappropriate behavior. Please keep your comments relevant and respectful. By leaving the ‘Post to Facebook’ box selected – when using Facebook comment system – your comment will be published to your Facebook profile in addition to the space below. If you encounter a comment that is abusive, click the “X” in the upper right corner of the Facebook comment box to report spam or abuse. You can also email us.