One of the most polarizing and perhaps misunderstood, businesses on Wall Street is Palantir Technologies (NYSE: PLTR). For years, the company was privately held and bankrolled by prominent Silicon Valley venture capitalists — most notably, Peter Thiel.
Unlike other start-ups, Palantir remained somewhat elusive during its time as a private company. Very little was known about its operation beyond its ties to the U.S. government.
When Palantir hit the public exchanges in late 2020, a dichotomy was formed almost immediately between retail investors and institutional funds. The retail community took a liking to it, thanks in large part to its CEO, Alex Karp.
But Wall Street had a different opinion. Many research analysts saw the company as no more than a government contractor or a glorified consulting business, masquerading as an enterprise software developer.
After a brutal sell-off in…
