Palantir

Over its last 20 sessions PLTR has moved 2.80% on a typical day, making it livelier than most of the stocks Kinzan tracks (their median is 1.81%).

At +0.1σ, the last 24 hours have been an entirely ordinary session for PLTR.

It sits in the upper half of its 24-hour range of 194.38–197.2, measured on hourly closes.

The London block (07:00–13:00 UTC) did most of the work — roughly 45% of the movement over the last 24 hours.

Over the last 60 sessions of daily returns, it has moved most closely with NDX (+0.55, a moderate relationship).

Its last close is at the 96th percentile of its own last 82 sessions, and its 20-day volatility at the 24th.

Market read: Palantir is holding near its daily highs, showing steady resilience despite broader market volatility.

What it is

Palantir builds software that pulls data from an organisation’s scattered systems into a single model that analysts and operators can query and act on. It began with defence and intelligence agencies, and government work remains a large part of revenue, with the US government its biggest customer. Gotham is the platform used by governments and militaries; Foundry is its commercial counterpart, used by manufacturers, energy companies, banks and hospitals. Its Artificial Intelligence Platform layers large language models over those systems so they can work against a customer’s own data under its access controls. Unusually for software, it often places its own engineers inside a customer’s operations.

What drives it

Growth in US commercial revenue has become the figure watched most closely, as evidence that the AI platform is spreading beyond the government base. The government side is lumpier, depending on defence budgets, procurement decisions and large multi-year contract awards in the US and among allies. The bigger driver of the shares, though, has been valuation. They trade at a multiple of revenue far above almost any other large software company, so sentiment, retail enthusiasm and the appetite for AI exposure have moved them more than any quarter’s numbers, leaving them sensitive to interest-rate expectations and to rotation out of momentum stocks. Political scrutiny of its defence and law-enforcement work recurs but has rarely driven the price.

How it trades through the day

The shares change hands in the New York block, across the cash session at 13:30 to 20:00 UTC during US daylight time and 14:30 to 21:00 UTC in winter. Retail investors make up an unusually large share of the flow, and options volumes are among the highest of any single stock, so moves are often extended by positioning rather than news. Results are released after the close, a little over a month after each quarter ends, and double-digit percentage moves in the following session have been frequent.

What it tends to move with

It trades with high-momentum and AI-themed shares rather than with established software, and has sometimes moved against the software group when investors rotate between them. Defence spending news gives it a link to defence contractors that no other large software company shares. It sits in both the S&P 500 and the Nasdaq 100, and its swings now register in both.