Jim Cramer on Palantir: “Maybe It’s Coming Back”

Palantir Technologies Inc. (NASDAQ:PLTR) was one of the stocks on Jim Cramer’s radar on Mad Money as he explained that many investors might be missing out on the market’s biggest winners. When a caller inquired about the stock, Cramer said:

Okay, right now, other companies are shining so brightly that they’re taking away the sheen of Palantir. But maybe something changed today with Snowflake. Palantir is up $10; maybe it’s coming back. I have never, I have not lost faith in my great friend Alex Karp, and I don’t think I will.

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 May 15 episode, a caller mentioned that they hold an oversized 15% position in the company’s stock and sought Cramer’s advice on whether they should further trim into strength to rebalance their portfolio or maintain the remaining stake. In response, the Mad Money host commented:

You’re going to let this one run. Now, Palantir is a perfect example of an incredibly good company whose stock got ahead. I, too, got ahead. When it got to $200, I got too bulled up. I had liked it all the way down from 50, but I’m not going away from the company. It just happens to be an expensive stock. But it is an amazing company, and I think you should hold on to the rest. And I always welcome anyone from Palantir to come on, including a first-year associate, since no one else will come from that place.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years 

Disclosure: None. Follow Insider Monkey on Google News.