Palantir Technologies stock (NASDAQ: PLTR) has had a solid run, rising by almost 4x since the beginning of the year to about $66 presently.

Palantir Technologies (PLTR) is an artificial intelligence (AI)-powered tech stock that has captured Wall Street's imagination in 2024. With a market cap of nearly $150 billion, Palantir stock has returned 280% to shareholders year-to-date.

Shares of data-mining and analytics company Palantir (NYSE:PLTR) jumped 9.6% in the morning session after the company announced plans to transfer its stock exchange listing from the New York Stock Exchange to the Nasdaq Stock Exchange.

There's plenty of evidence that Palantir 's ( PLTR 1.39%) stock is in a bubble. History is not on Palantir's side, and many companies have traded around the lofty expectation its stock currently trades at, and few (if any) have worked out well for investors.