Palantir Technologies Inc. Stock Rises Friday, Outperforms Market

Shift Technologies Inc

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Consumer Discretionary : Specialty Retail | Small Cap Blend

Company profile

Shift Technologies, Inc. is an end-to-end e-commerce platform transforming the used car industry with a technology-driven customer experience. Its segments include Retail and Wholesale. The Retail segment represents retail sales of used vehicles through the Company's e-commerce platform and fees earned on sales of value-added products associated with those vehicles sales, such as vehicle service contracts, guaranteed asset protection waiver coverage, prepaid maintenance plans, and appearance protection plans. The Wholesale segment represents sales of used vehicles through wholesale auctions or directly to a wholesaler (DTW). It provides technology-driven solutions throughout the car ownership lifecycle. It operates approximately nine vehicle inventory inspection, reconditioning and storage centers, with six spanning the West Coast from San Diego to Seattle and three new facilities in Austin, San Antonio and Dallas, Texas. It conducts its business through its wholly owned subsidiaries.

Palantir Technologies Inc. Stock Rises Friday, Outperforms Market

5:15 pm ET May 13, 2022 (MarketWatch) Print

This article was automatically generated by MarketWatch using technology from Automated Insights.

Shares of Palantir Technologies Inc. (PLTR) jumped 13.62% to $8.34 Friday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index rising 2.39% to 4,023.89 and the Dow Jones Industrial Average rising 1.47% to 32,196.66. This was the stock's second consecutive day of gains. Palantir Technologies Inc. closed $20.95 below its 52-week high ($29.29), which the company achieved on September 17th.

The stock outperformed some of its competitors Friday, as Tyler Technologies Inc. (TYL) rose 3.81% to $358.36, Cognizant Technology Solutions Corp. (CTSH) fell 0.22% to $73.38, and Verint Systems Inc. (VRNT) rose 5.69% to $51.12. Trading volume (69.1 M) eclipsed its 50-day average volume of 43.6 M.

Data source: Dow Jones Market Data, FactSet. Data compiled May 13, 2022.

(END) Dow Jones Newswires

May 13, 2022 17:15 ET (21:15 GMT)