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Technology Stocks : Palantir Technologies Inc PLTR:NYSE

PLTR 199.28

+2.4%

12:02 PM EDT

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From: Don Green	7/18/2023 8:54:48 AM
	of 147

PLTR Stock Alert: Palantir Is Betting Big on Rubicon (RBT) Stock Some believe that PLTR stock is being undermined by Palantir's start-up investments 21h ago · By Larry Ramer, InvestorPlace Contributor Palantir ( PLTR) has acquired about 6 million more shares of Rubicon ( RBT), a start-up company that combined with a special purpose acquisition company (SPAC).Palantir has been criticized for investing in SPACs in the past.PLTR now owns about 6.2% of Rubicon. PLTR Stock and the Investment in RubiconAfter Palantir acquired another 5.69 million shares of RBT stock since March 31, PLTR owns a total of 14.63 million shares of the company. That brings its total stake in Rubicon to 6.2%. In May, Palantir noted in a U.S. Securities and Exchange Commission (SEC) filing that its stake in Rubicon had dropped below 10% because the start-up had sold more shares. According to Barron’s, Palantir “enhances Rubicon’s data analytics capabilities.”Additionally, as part of the partnership, the company helps Rubicon bring a number of its offerings to market. Shares of RBT stock became publicly traded last year after the company combined with a special purpose acquisition company (SPAC). Criticism of Palantir’s SPAC InvestmentsRubicon is one of Palantir’s customers. In the last few years, some critics have said that Palantir’s practice of investing in firms that subsequently become customers is negative for PLTR stock. Some on the Street believe that Palantir is “buying revenue”with such deals. Last December, The Wall Street Journal reported that these large-scale investments by Palantir were “unusual.” Noting that PLTR had invested more than $400 million in this way, WSJ also noted that “the bets have backfired.” Per the report: “Palantir’s 20 startup investments, which include a flying-taxi company and numerous electric-vehicle startups, are down more than 80% on average.” How these kinds of investments play into the future of Palantir remains to be seen.

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