Palantir Technologies Inc. (NASDAQ:PLTR) continues to hold a spot on Jim Cramer’s radar, even as the stock experiences a sharp decline. During his recent appearance on CNBC’s Squawk on the Street, Cramer reiterated his confidence in the data analytics firm, highlighting its resilience and influence despite the broader market downturn.
Cramer’s Take on Palantir: “They Own the Media!”
While discussing the recent 33% pullback in Palantir shares since late February, Cramer expressed confidence in the company’s staying power. He emphasized its dominance in the data analytics sector and its deep-rooted relationships with major institutions, including the Pentagon.
“The winners will become not winners. Except for Palantir because they own the media,” Cramer remarked, implying the company’s widespread influence and perceived competitive advantage.
Cramer also praised CEO Alex Karp for his leadership and strategic vision, citing the firm’s potential collaboration with Elon Musk’s DOGE initiative as an opportunity to help the Pentagon cut costs—a move that could further entrench Palantir’s presence in the defense sector.
Hedge Funds Are Still Betting on Palantir
Despite the recent sell-off, Palantir remains a favorite among institutional investors. In Q4 2024, 64 hedge funds held positions in the company, underscoring Wall Street’s continued interest.
Palantir’s strategic contracts with government agencies and private enterprises make it a compelling long-term play for both institutional and retail investors.
Palantir’s Market Performance and Outlook
The stock’s recent slump comes amid broader volatility in the tech sector. However, Palantir’s expanding influence in AI, data security, and government contracts positions it as a potential long-term winner.
Investors will be watching closely for upcoming earnings reports and potential contract announcements, which could serve as catalysts for a rebound.
✅ Key Takeaway
While Palantir’s stock has been battered by recent market conditions, Jim Cramer remains bullish, citing the company’s media dominance, strong leadership, and government ties. With hedge funds maintaining significant positions, PLTR could be poised for a comeback once market sentiment improves.
