Meet the Newest Stock in the Nasdaq. It's Soared 918% Since Last Year, and It's Still a Buy Right Now, According to Certain Wall Street Analysts.

The Nasdaq Composite is a comprehensive technology-focused index that tracks the performance of more than 3,000 stocks listed on the exchange. Earlier this month, the index hit (another) all-time high, marking the 27th so far this year. After its recent sprint higher, the Nasdaq is taking a well-deserved respite, down about 1% from its peak (as of this writing). Some investors are concerned that the rally has lost its momentum, but many on Wall Street believe the bull market still has room to run.Palantir Technologies (NASDAQ: PLTR) is the most recent addition to the Nasdaq, joining the tech-centric index on Nov. 26. This follows the company's recent admission to the S&P 500, making it one of just 11 companies afforded that honor so far this year.The decision came down to performance. Since the advent of generative AI early last year, Palantir stock has surged 930% (as of market close on Wednesday), as its AI expertise fueled robust revenue and profit growth.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool