Jim Cramer Notes “Palantir Continued to Surge Higher as It Won Tons of Contracts”

Palantir Technologies Inc. (NASDAQ:PLTR) is one of the stocks Jim Cramer expressed thoughts on. Cramer highlighted the company’s contracts during the episode, as he said:

“Now, there’s a way to speculate responsibly. You buy stocks of companies with real earnings, real revenues that can get a much higher price-to-earnings multiple expansion on that news flow. It’s not the perfect way, but it’s a way… Palantir continued to surge higher as it won tons of contracts, both from the private sector and the federal government. It went up $6 today to $188.… Neither stock is done going higher. These kinds of stocks with the ability to turn into high-powered, high-earning stories could absolutely last through the end of the year of magical investing because their sales and earnings are still growing like weeds.”

Palantir Technologies Inc. (NASDAQ:PLTR) develops data analytics and AI software platforms, including Gotham, Foundry, Apollo, and Palantir Artificial Intelligence Platform, that help organizations integrate, analyze, and act on complex data. During the December 3 episode, a caller asked about the stock and Cramer said that the company’s stock is “going higher.” The Mad Money host replied:

“Alright, I don’t want you to sell Palantir. Palantir is a great… high-quality name. Alex Karp is a bit of a wild man. I don’t mind that. I think that they’re doing incredible work. Now, I know there was an article in the Washington Post today about them working with ICE. You have to keep your politics out if you want to make a lot of money. Not that I’m like crazy about… some of the things they do and they don’t. But if you’re asking me whether I think the stock’s going higher, which is what I think you are… I think Palantir is going higher.”

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Disclosure: None. This article is originally published at Insider Monkey.