Palantir stock poised for potential surge ahead of Nasdaq-100 announcement

Palantir Technologies has seen its stock rise 345% this year, making it the best performer in the S&P 500. The company recently moved its shares from the New York Stock Exchange to Nasdaq, aiming for inclusion in the Nasdaq-100 index. The announcement regarding the Nasdaq-100 reconstitution is expected on December 13, with changes taking effect on December 23. If included, Palantir's stock could experience upward pressure as index funds will need to purchase shares. Despite the potential for a stock surge, analysts warn that Palantir's current valuation is unsustainable. The median target price among analysts suggests a possible decline of over 50% from its current price of $76.50 per share.