Wall Street Bets and Palantir.

If you don't know what wall street bet is, I'll try to summarize it. Imagine a place with a bunch of people throwing the craziest type of ideas, and they all know it's crazy, yet many of them go and make it real. Well, that pretty much is wall street bets, this subreddit makes the most surreal type of financial decisions and post there so everyone can see their success and failure.


Palantir is a pretty controversial company because of its work with some agencies of the U.S government, yet it's been working more with commercial companies. They work in big data analytics and still has not yet reported a profit. 

Even before the company going public people at the WSB(wall street bets) community were already thinking about it and some of the reactions were people already thinking they should "buy buy buy" and go "all in". I'd say that pretty much is like what has happened after it's IPO.

Its listing price started at $10 a share, and on the first day, the stock has closed at $9.73, not a good day for the degenerates(literally what they call themselves). Yet, this is not that bad after all, you see people on wall street bets don't like buying stocks and things like that, they pretty much think this is a waste of time, they prefer much heavier doses of financial instruments, options is their favorite one.

And even though it took a while to close again higher than $10, since November 30th it has been going up and many traders with call options have probably made some good bucks.

THIS IMAGE IS FROM DECEMBER 1st

Does the company have any intrinsic value? Probably, but yet to go from $10 to more than $25 it's only possible to believe it's only a bunch of people speculating on its price.

It's a nice idea to be only watching this, yet I can't deny it's really funny seeing how a subreddit has become so powerful that they are able to change stocks value by that magnitude, and even though that this company has not yet made a profit their value has grown more than 100%.

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