Palantir Stock Price Increased Over 3% Pre-Market: Why It Happened

By Amit Chowdhry ● April 5, 2021
  • The stock price of Palantir Technologies Inc (NYSE: PLTR) increased by over 3% pre-market. This is why it happened.

The stock price of Palantir Technologies Inc (NYSE: PLTR) increased by over 3% pre-market. Investors appear to be responding to the company announcing it has been selected by the National Nuclear Security Administration (NNSA) to provide its Office of Safety, Infrastructure, and Operations with a platform for effective knowledge management and data-driven decision-making in a deal worth up to $89.9 million for a duration of up to 5 years.

And Palantir will serve as the platform for NNSA’s Safety Analytics, Forecasting, and Evaluation Reporting (SAFER) project. Plus SAFER will help the NNSA in their mission to manage nuclear security by allowing it to best allocate its human and financial resources to prioritize safety. This is Palantir’s first contract with the National Nuclear Security Administration.

For SAFER, Palantir is going to configure a common operating picture that will integrate data and allow the NNSA to measure the health of safety programs across the organization and provide timely insights into data. And the program will give NNSA staff the ability to track, trend, query, analyze, and visualize safety metrics from different sites across the country. Plus Palantir’s software allows for the integration of data across the enterprise regardless of data type or source system, and its granular security model is uniquely suited for the NNSA to collaborate across its sites securely.

KEY QUOTE:

“Our work with NNSA illustrates Palantir’s mission to provide software to the world’s most important institutions in support of their most critical work. We are excited to expand our work within the U.S. government and provide the NNSA with a high-tech solution to make the best possible use of its resources in support of the Nation’s nuclear security missions.”

— Palantir USG President Akash Jain

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.