Palantir gains on transferred listing to Nasdaq

Investing.com -- Shares of Palantir Technologies (NASDAQ: NYSE:) rose 2.8% in premarket trading on Friday following the company's announcement that it will transfer its stock listing to the Nasdaq Global Select Market from the New York Stock Exchange.

The transition, effective November 26, 2024, ensures that Palantir's Class A Common Stock will continue trading under its current ticker symbol, "PLTR."

Additionally, the company expects to meet the eligibility requirements for inclusion in the Nasdaq-100 Index, a benchmark that tracks the performance of the largest non-financial companies listed on Nasdaq.

The move to Nasdaq is a strategic step for Palantir, aligning it with a stock exchange known for its strong technology focus and a concentration of leading tech companies.

Nasdaq is home to some of the world's most valuable technology firms, making Palantir's transfer a potentially significant development for its visibility and investor base.

Palantir, a company specializing in data analytics and artificial intelligence, has seen significantly increased market interest this year amid its expanding product portfolio and partnerships across various industries.

The company's shares have risen almost 250% for the year-to-date, while in the last 12 months, the stock has gained just over 197%. It currently trades around the $60.90 mark.