Palantir Technologies Inc. PLTR , whose shares have surged over 376% year-to-date, was better understood by retail investors than institutional ones during its challenging period in 2022 , according to Wedbush Securities Managing Director Dan Ives . What Happened : “Institutional investors were stuck in group-think when it came to Palantir as an investment in 2022. It wasn’t part of the cool kids club,” Ives said in an interview with Palantir investor Amit Kukreja . “People didn’t understand the culture of Palantir. We’re talking about the elite of the elite.” The data analytics company’s stock performance has made it the S&P 500’s top performer this year, pushing its market capitalization to $176.47 billion. However, this surge has raised valuation concerns among analysts, with the stock trading at 172 times its projected 2025 earnings – nearly triple the industry average of 59.4. See Also: Veteran Investor Bets Big On S&P 500 Hitting 7,000 By End Of 2025: These Sectors Could Lead The Charge Why It Matters : Despite the lofty valuation, Ives maintains his bullish stance with a $75 price target, describing Palantir as “the Messi of AI” and predicting significant AI spending growth in 2025 . UBS recently set a higher $80 target while maintaining a neutral rating, though expressing concerns about the current valuation at 49 times revenue. Former Palantir employee Alex Fishman , now with Empros Capital , reinforced the optimistic outlook : “When I look at Palantir, it’s one of the few companies where I can easily envision it becoming 10 or 20 times its current size.” The broader Wall Street consensus remains cautious, with an average price target of $35.58 based on 20 analyst ratings, suggesting potential downside risk despite the company’s strong momentum in artificial intelligence and data analytics. Price Action : Palantir stock closed at $79.08 on Friday, down 3.73% for the day, with after-hours trading seeing a further decline of 0.35%. Year to date, the stock has surged 376.96%. It has a 52-week range of $15.66 to $84.80 and a market capitalization of $176.47 billion. The stock’s price-to-earnings ratio stands at 410.70, with a 14-day Relative Strength Index of 56, suggesting neutral momentum, according to data from Benzinga Pro . Read Next: Boeing In Spotlight After Fatal 737-800 Crash In South Korea, Stock Declined 28% Amid Deepening 2024 Challenges Image Via Shutterstock Disclaimer : This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Jeju Air shares hit record low after a deadly plane crash in South Korea. The crash occurred amid political turmoil with three presidents in a month in South Korea. Political uncertainty has increased market volatility in South Korea. Shares of South Korean budget carrier Jeju Air hit their lowest level on record following a plane crash over the weekend. On Sunday, a Jeju Air plane traveling from Bangkok's Suvarnabhumi International Airport crashed at a South Korean airport crashed, killing 179 people. It was carrying 181 passengers and crew members. Jeju Air's stock slumped as much 16% and was 8% lower at 12:23 p.m. local time on Monday. The stock of AK Holdings, the airline's parent company, fell as much as 12%. The decline in Jeju Air shares comes on the back of a choppy month in South Korea's stock market amid political uncertainty. The country has been led by three presidents in a month following the impeachment of President Yoon Suk-yeol and acting president Han Duck-soo. Deputy prime minister and finance minister Choi Sang-mok became the country's acting president on Friday. The turmoil came after Yoon declared martial law — which lasted six hours — earlier this month. Han was impeached by the opposition after he refused to appoint three judges to fill the nine-member Constitutional Court, which will rule on Yoon's removal from office. The political uncertainty could persist. "If Choi Sang-Mok does not approve the three new justices for the Constitutional Court, it is likely that the Democratic Party will also try to impeach him," wrote independent analyst Douglas Kim, who publishes on the Smartkarma platform, on Saturday. South Korea's benchmark Kospi index was up 0.4% at 12:23 p.m. local time. It is down about 9% year-to-date. "Due to the high levels of political uncertainty, it appears that many participants are sitting on the sidelines, not wanting to commit too much on the Korean markets," added Kim, who expects trading in South Korea's markets to remain "highly volatile" in January.Osisko Gold Royalties Ltd ( TSE:OR – Get Free Report ) announced a quarterly dividend on Wednesday, November 6th, Zacks Dividends reports. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.065 per share on Wednesday, January 15th. This represents a $0.26 annualized dividend and a yield of 0.98%. The ex-dividend date is Tuesday, December 31st. Osisko Gold Royalties Trading Up 0.2 % Osisko Gold Royalties stock opened at C$26.46 on Friday. The company has a debt-to-equity ratio of 7.00, a current ratio of 4.92 and a quick ratio of 0.98. The stock has a market capitalization of C$4.93 billion, a PE ratio of -52.92, a price-to-earnings-growth ratio of 1.31 and a beta of 0.90. The firm has a 50 day simple moving average of C$27.46 and a 200-day simple moving average of C$24.84. Osisko Gold Royalties has a 12-month low of C$17.41 and a 12-month high of C$29.57. Insider Activity In other news, Director Duncan Cornell Card sold 10,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of C$27.03, for a total transaction of C$270,331.00. 0.38% of the stock is currently owned by company insiders. Wall Street Analyst Weigh In Read Our Latest Report on OR Osisko Gold Royalties Company Profile ( Get Free Report ) Osisko Gold Royalties Ltd acquires and manages precious metal and other royalties, streams, and other interests in Canada and internationally. It also owns options on offtake; royalty/stream financings; and exclusive rights to participate in future royalty/stream financings on various projects. The company's primary asset is a 3-5% net smelter return royalty on the Canadian Malartic complex located in Canada. Further Reading Receive News & Ratings for Osisko Gold Royalties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Osisko Gold Royalties and related companies with MarketBeat.com's FREE daily email newsletter .Israel PM Benjamin Netanyahu undergoes prostate operation. How serious it? Check latest health update
Dubai Weeklys Unveils Highlights of Winter City Expo 2024 and New Year's Eve 2025
Lawmakers and commentators think it’s “clear” Donald Trump is already in charge even though his inauguration is still weeks away. As President Joe Biden winds down his presidency, Trump is behaving as though he is already in office by intervening with last week’s spending bill, issuing threats to retake the Panama Canal and asserting dominance over Greenland, according to The Hill. “It’s clear he’s in charge now,” Republican Senator Lisa Murkowski of Alaska told the outlet, remarking on Trump’s influence over the chaotic spending bill when the government was just a few hours from a shutdown. “Nobody is talking about, ‘Where’s Biden?’ in any of this. Trump is in charge,” she added. “Trump is in charge now, even without the election certification.” Trump’s assertiveness, with his inauguration just weeks away, is “unprecedented,” according to Stephen S. Smith, a political science professor at Washington University in St. Louis. Smith noted that Trump, spurred on by billionaire ally and adviser Elon Musk, took GOP leaders by surprise when he proclaimed his opposition to Mike Johnson’s first bipartisan bill. “Trump’s involvement is unprecedented,” he told The Hill . “I have no doubt he was being carefully advised about what was going on. Surely there must have been the thought that his open involvement — which would have been a form of criticizing the Republicans for something — would have only made it more difficult for the Senate Democrats to win some concessions from the House Republicans.” Republican strategist Vin Weber told the outlet that the issue is more about Biden’s absence than Trump’s assertiveness. “I’ve heard people criticize Trump for jumping in too soon,” Weber said. “I think the main point is that Biden has vacated the field and Trump has filled the vacuum.” Weber added that it was “really telling” that Biden didn’t have much impact over last week’s spending bill chaos in Congress . “It was quite something to watch,” Weber said. Other Republicans claim that Biden has already “checked out.” Republican Senator Thom Tillis of North Carolina told The Hill that Trump “has been more of a president the last month than President Biden’s been,” while Republican Senator John Cornyn of Texas said Biden “checked out a long time ago.” “I don’t see a lot of leadership coming from the White House . We’re getting more White House leadership from Mar-a-Lago than we’re getting from the White House,” Tillis added. Some Democrats thought Biden “could have been more vocal” about some of the proposals in the bill that Trump managed to remove, according to The Hill. A Democratic senator, who spoke anonymously, conceded that the Biden administration was “out of energy.” Democratic Senator Richard Blumenthal of Connecticut told The Hill he hadn’t “heard anything directly from the White House,” but added he wasn’t aware of conversations at a leadership level. The White House pushed back against criticism and claimed their “maneuvering prevented a Republican-triggered Christmas shutdown .” “President Biden and his team worked hand-in-hand with Leaders Jeffries and Schumer to leverage Republicans’ mistakes against them, guaranteeing that the American public knew the House GOP and Trump were breaking their word and putting tax breaks for the wealthy above troops and Social Security recipients — all at the direction of the richest man in the world,” White House senior deputy press secretary Andrew Bates told The Hill in a statement.Enzo Maresca has backed Manchester City to bounce back into Premier League title contention and said it is “just reality” that Chelsea are not in the hunt themselves. Maresca’s Blues host Fulham on Boxing Day lying second in the table, and are only four points adrift of leaders Liverpool, having played one match more. Advertisement City have won the league for the past four seasons but they have been cast 12 points adrift of the summit following a miserable run which has seen them lose nine times in their previous 12 outings. However, Maresca, who worked alongside Pep Guardiola at the Etihad, said: “Manchester City at the end will be there. They are in a moment that has never happened before. Advertisement “Every time they play a game, they have an injury, and they don’t have enough players in this moment. And the ones they have are not 100 per cent because they have just come back from injury, so it is a very bad situation. “We are ahead of our expectations, in terms of the way we are playing, and the points we have, but the main focus is how we can improve the players and how we can improve the team.” Maresca, who has continually played down his side’s aspirations for glory, added: “It is not about the (title) pressure for the players or for the club or for me, it is just the reality. Advertisement “I would like to have that kind of pressure and hopefully soon we can, but the reason why I said we are not there yet, is because the reality is that we are not.” Liverpool are ready to capitalise on City’s demise, while Arsenal, who are six points off top spot, are set to be without star man Bukayo Saka for a sustained period after he suffered a hamstring tear. Advertisement Asked if it was Liverpool’s title to lose, Maresca said: “No, the reality says we are second at the halfway point, so the table does reflect the teams. “But Liverpool have done a fantastic job since the first day, and the squad has lived that kind of moment, winning a trophy, which is important. Chelsea winger Mykhailo Mudryk has not played for a month (Zac Goodwin/PA) Advertisement “Last year, when Liverpool faced Chelsea in the Carabao Cup final I saw the amount of finals that Liverpool players had played in, and the number of finals Chelsea players had played in, and there was a huge difference. So it shows the experience you need, but we are happy to be where we are.” Chelsea will continue to be without winger Mykhailo Mudryk after he returned a positive drugs test. The 23-year-old Ukrainian, who has not played for a month, was spotted ringside for compatriot Oleksandr Usyk’s heavyweight title victory over Tyson Fury in Saudi Arabia at the weekend. “In this moment it is good that he can disconnect a little bit from the situation,” said Maresca. “The last time I spoke with him, we try to support him, and now we are just waiting.”
South Carolina found its next quarterback. Ohio State transfer Air Noland committed to the Gamecocks on Monday, per Hayes Fawcett of On 3. While Noland didn't see meaningful playing time on the Buckeyes, he was a 4-star prospect and the No. 4 overall quarterback in the recruiting class of 2024, per 247Sports' composite rankings. Noland isn't the only quarterback leaving Ohio State via the transfer portal, as backup Devin Brown also said he is heading elsewhere. However, Brown will remain with the Buckeyes through the College Football Playoff, while Noland has turned his attention to his next stop. The Scarlet and Gray may need to turn to the portal for depth at the position heading into the 2025 campaign, as Will Howard will also be gone next season. That leaves Julian Sayin as the presumed starter, but the team could use some additional depth for insurance. As for South Carolina, Noland is someone who could be the quarterback of the future if LaNorris Sellers leaves for the 2026 NFL draft down the line. Noland was buried on Ohio State's depth chart, but he brings potential as a pocket passer. Fisher Brewer of Sports Illustrated noted he threw for 55 touchdowns in his junior season of high school, which is second in Georgia history. His presence helps eliminate any questions about depth behind Sellers for the upcoming season and gives the Gamecocks a long-term option with a high ceiling. "Noland, who was an Elite 11 finalist and finished second in the prestigious quarterback competition, is known for his elite accuracy and poised decision-making," Brewer wrote. "While he has the ability to move in the pocket, his game is more aligned with a pro-style quarterback. Uniquely, he is a rare left-handed passer, which adds another layer of intrigue to his game." Don't be surprised if Noland is the No. 1 option for South Carolina for the 2026 season.
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Stock market today: Wall Street rises at the start of a holiday-shortened week