Dan Ives of Wedbush has been optimistic about Palantir's potential, forecasting it could reach a $1 trillion market cap within two to three years. Following a recent 45% rise in stock value, Palantir has demonstrated resilience amid a challenging tech sector. Despite being labeled a 'meme stock' due to its popularity on platforms like Reddit, Ives believes the company's prospects in AI could justify its high valuations, despite skepticism from some investors regarding its market worthiness.
"Ives has been the man on Wall Street to listen to, even as doubters raised concerns over PLTR stock's lofty valuation."
"Palantir is a bit of a meme stock of sorts, with many Redditors chasing the name solely because of its blistering momentum."
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