Nov. 26 at 12:39 AM
They bet everything on Palantir and became millionaires. Inside the market’s ultimate cult stock.
In October 2020, Laurence Cohen made a trade that no financial adviser would ever endorse. He decided to invest every penny of his life savings into over 10,000 shares of the data-analytics company Palantir Technologies Inc., which had just debuted on the New York Stock Exchange for
$10 apiece.
“If I was wrong about Palantir, I would have nothing right now,” Cohen, a 42-year-old business owner who lives in London, told MarketWatch. Cohen’s initial investment has ballooned to around
$2.2 million today as shares of Palantir
$PLTR have skyrocketed over 1,600% since their listing on the public market.
Manish Kapoor, a 54-year-old IT worker in Wisconsin, took a similar leap of faith, taking out a quarter-million-dollar home-equity loan and putting it all into shares of Palantir last November.