Aswath Damodaran, Dean of Valuation, says that Palantir is one company he refrains from valuing as he has no idea what they do; here are some investment lessons
Aswath Damodaran, also known as the «Dean of Valuation,» recently shared his views about Palantir Technologies in a podcast with NYU professor Scott Galloway. Even though Palantir’s stock rose 550% since last year and this year its stock price surged 49%, Damodaran is not sure about the company, as per a report.
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When asked if he thinks Palantir's stock is overvalued, Damodaran did not hesitate to declare that it's the only company he won't value, reported The Motley Fool. He confessed that he has «no idea what they actually do» or at least not sufficient to create an intelligible impression, perhaps owing to the nature of their task being classified and proprietary, according to The Motley Fool.
While Damodaran's comment might seem humorous, it is an investment lesson that an investor must keep in mind before investing in a company, as per the report. Here is a closer look at what he meant.
Palantir's strong yet mysterious business
Palantir has been making big strides lately, the technology firm has been reaping revenues and profits, striking strategic deals with behemoths such as Amazon, Meta, Microsoft, and Oracle, as per reports.
Palantir’s AI software is used for everything from military operations and supply chain management to fighting fraud and optimizing healthcare. While other software companies may offer similar services, Palantir’s
