Palantir Technologies (PLTR) Stock

Palantir Technologies (PLTR 0.47%) has been one of the most thrilling stocks of 2024, increasing by about 275% so far this year. Such remarkable returns are what every investor seeks, leading many to search for stocks that might replicate Palantir's success in terms of performance.

Palantir (PLTR 0.54%) has seen its shares rise by 288% this year, making it one of the top-performing AI stocks of 2024, surpassing hardware leader Nvidia, which is up 188%. However, the question remains whether the company's fundamentals support its $140 billion market value.

There's no doubt that Jim Cramer, the host of CNBC's "Mad Money," is both an engaging entertainer and a skilled analyst.

Palantir Technologies' stock (NASDAQ: PLTR) has performed well, increasing nearly four times since the start of the year to around $66 now. This impressive growth can be attributed to various factors.

This month has been quite eventful for Wall Street news. With Election Day, earnings reports, and the October inflation data, investors have had plenty of reasons to pay attention.

There is a lot of proof that Palantir's (PLTR) stock is overvalued. The company's past suggests that it may struggle, as many businesses have faced similar high expectations and very few have been successful for investors.

Israel Englander, a billionaire, is the founder and CEO of Millennium Management, which is recognized as the second-most successful hedge fund ever based on net profits since it started, according to LCH Investments. This makes him an interesting example for investors to study.

Artificial intelligence (AI) has captured Wall Street's focus since it emerged about two years ago. Although Nvidia was considered the top AI stock in 2023, Palantir Technologies (PLTR) appears to be leading the way this year.

According to analysts from Wedbush, following Nvidia's impressive achievements in recent years, it might be time for the broader software industry to join the AI trend.