After a jump of that magnitude, some investors may wonder if it's simply too late to buy the stock.

Palantir Technologies Inc.'s stock is now the second-best performer in the S&P 500 for 2024, with its fervent recent rally carrying above Nvidia Corp.'s stock. Shares of Palantir, which joined the S&P 500 in September,

Shares of Palantir (PLTR) rose over 20% on Tuesday morning after the data analytics software platform reported third quarter earnings and outlook far above Wall Street’s expectations.

Shares of Palantir ( PLTR 8.61%) were soaring today after the artificial intelligence (AI)-focused software stock posted better-than-expected results in its third-quarter earnings report last night, as revenue growth accelerated for the fifth quarter in a row. It posted strong margin expansion as well.