What’s Going On With Palantir Technologies Shares Monday?

Lekha Gupta | April 1, 2024

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Palantir Technologies Inc. (NYSE:PLTR) received a contract from the Defense Information Systems Agency (DISA) on Friday.

Notably, Palantir won the contract to deliver an Electromagnetic Battle Management – Joint Decision Support (EMBM-J DS) prototype.

The prototype Other Transaction Authority (OTA) Agreement contract is worth $9.8 million over twelve months.

The contract will provide the Department of Defense with an advanced software capability to support Joint Electromagnetic Spectrum Operations (JEMSO).

Betsy Park, EMBM-J program manager, said, “The ability to ingest component-level courses of action and schemes of maneuver into an overall joint plan and evaluate the associated electromagnetic spectrum opportunities and risks will be a significant technological leap forward for EMS operational planners. EMBM-J will play a critical role in ensuring that our forces are able to achieve EMS superiority across every warfighting domain.”

Related – The Analyst Landscape: 11 Takes On Palantir Technologies

Dr. Miriam Marwick, SVP of Emerging Technologies at Palantir USG, said, “We are excited to continue our work with DISA PEO Spectrum and deliver our technology to accelerate the Department of Defense’s achievement of spectrum dominance. Through our extensive work with the operational community, we have learned a great deal about the impact of electromagnetic spectrum on recent conflicts and are working diligently to apply these lessons to meet the challenges of contested battlespaces.”

Last week, the company inked an agreement with The Ministry of Education and Science of Ukraine to boost the education system and ensure the maximum number of children have access to safe in-person learning.

Investors can gain exposure to the stock via Global X Funds Global X Defense Tech ETF (NYSE:SHLD) and Tidal ETF Trust II The Meet Kevin Pricing Power ETF (NYSE:PP).

Price Action: PLTR shares are down 0.35% at $22.93 premarket on the last check Monday.

Image via Shutterstock

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