From the Cryptoverse: A Millionaire's Take on Palantir Technologies' Potential
Tech Investor Dan Ives Predicts 290% Growth for Peter Thiel-Backed Stock, Anticipates Its Evolution into a Pioneering Tech Company
In a recent interview with CNBC, Dan Ives, the global head of technology research at Wedbush Securities, expressed his confidence in analytics software firm Palantir Technologies (PLTR). Ives believes that PLTR's market cap could skyrocket by an astounding 290% from the current level in the next few years.
"I think this is going to be a $1 trillion market cap in the next two to three years," Ives declared. "These numbers just show...it's still in the early days of playing out."
As of Monday's closing bell, Palantir Technologies is currently trading at $108 with a market cap of approximately $256 billion. Achieving the projected $1 trillion market cap would represent a remarkable 300% increase.
Ives, known for his bullish sentiment towards PLTR, likened the firm to soccer superstar Lionel Messi, suggesting the firm's hefty valuation was justified given its growth potential and ongoing successes in the AI revolution.
"If you go back the last few years, I mean they hated it at $10, despised it at $100, and that would be the continued argument of valuation," Ives explained. "If you look at what's happened to the artificial intelligence (AI) revolution...on the software side, it's their world, everyone else is paying rent, income is to Palantir."
Billionaire venture capitalist, Peter Thiel, is one of PLTR's significant shareholders, owning roughly 4.5% of the company. Thiel's investments have long been scrutinized within the industry, with his backing of other successful ventures such as Facebook and SpaceX.
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- With the ongoing successes in the AI revolution, Dan Ives, the global head of technology research at Wedbush Securities, likens Palantir Technologies to soccer superstar Lionel Messi, suggesting its hefty valuation is justified due to its growth potential.
- The market cap of Palantir Technologies could potentially skyrocket by 290% from the current level in the next few years, as expressed by Dan Ives.
- As of Monday's closing bell, Palantir Technologies (PLTR) is trading at $108 with a market cap of approximately $256 billion, according to the interview with CNBC.
- In the interview, Ives declared that Palantir Technologies' market cap could reach a staggering $1 trillion in the next two to three years.
- Billionaire venture capitalist, Peter Thiel, is one of PLTR's significant shareholders, owning roughly 4.5% of the company. Thiel's backing has long been scrutinized in the industry, given his successful investments in ventures such as Facebook and SpaceX.
- As part of their coverage, The Daily Hodl keeps a keen eye on the altcoin market, in addition to Bitcoin and Ethereum, providing in-depth analysis and insights on trading, blockchain, and finance.
