CNBC’s Mad Money host Jim Cramer came in with another eye-catching stock take early on Wednesday, September 3.
Namely, the former hedge fund manager expressed optimism for Palantir (NASDAQ: PLTR) ‘nearing the pack on the far run.’
“You have to be kidding me, is that Palantir sneaking nearing the pack on the far turn, coming from the outside? Gamer,” wrote Cramer on X.
The software company entered September on quite a volatile note, slipping to $156 after an August peak of $190, and despite a nearly 400% year-over-year gain, the market is now debating its sky-high valuation.
Investors unsure about Palantir
Several things have complicated the picture and muddied Palantir’s autumn outlook, most notably CEO Alex Karp’s $63 million stock disposal in 2025.
Persistent insider sales have also contributed to already high concerns caused by the company’s premium trading multiples relative to competitors such as Microsoft (NASDAQ: MSFT).
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Nonetheless, fundamentals remain strong. For instance, second-quarter revenue climbed 48% to $1.09 billion, with operating margins hitting 46%, and government contracts still cement Palantir’s role in the defense sector.
The broader artificial intelligence (AI) momentum is likewise there, so the swings are unusual in what is to be called an AI hype cycle. Will the stock really rebound in the coming weeks, or are we in for another inverse Cramer case?
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