Democracy Dies in Darkness
Business

Palantir goes public at $10 per share, ending 16 years of privately held secrecy

Documents give a first look at the secretive firm’s current business and raise questions about its prospects.

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September 30, 2020 at 2:41 p.m. EDT
Offices of Palantir Technologies in Palo Alto, Calif. (David Paul Morris/Bloomberg News)

The secretive big data and surveillance company Palantir Technologies offered its stock to public investors for the first time Wednesday, a long-anticipated move that will bring public scrutiny to one of tech’s most secretive start-ups.

The direct listing on the New York Stock Exchange was one of the most hotly anticipated tech IPOs in years, giving investors the chance to capitalize on a business that has grown by almost a third each year since 2009. Palantir stock started trading at $10 per share Wednesday ― higher than its earlier reference price of $7.25 per share ― and trailed off slightly in the afternoon, closing at $9.50 per share.