Jim Cramer Discussed These 10 NASDAQ 100 Stocks Recently

8. Palantir Technologies Inc. (NASDAQ:PLTR)

Number of Hedge Fund Holders: 43

While Cramer has previously called Palantir Technologies Inc. (NASDAQ:PLTR) a “cult stock”, more recently, he has been highlighting the rapid growth of the company and its numerous government projects. In the recent episode of Mad Money, calling the stock a winner in 2024, he commented:

“Most obvious winner for 2024, Palantir, the defense software company trying to revolutionize the way the Pentagon works. Its CEO Alex Karp is a brilliant bad boy Smash Mouth Philly guy who’s like a meaner version of Elon Musk and probably threw snowballs if not batteries at Santa Claus from the lower level of the link.

I think Palantir, up 340% for 2024, can have another breakout year because the Musk DOGE unit, Department of Government Efficiency, will work hand in glove with these guys. They’re all part of the same circle. They understand the procurement process. They will win a lot of business in 2025. Palantir, yes.”

Palantir (NASDAQ:PLTR) is a software company that focuses on developing advanced data platforms, primarily serving government agencies with tools designed for data analysis and decision-making. The company has become well known for its ability to assist in large-scale data operations, often providing solutions to complex government challenges. In a recent interview, Palantir CEO, Alex Karp stressed the need for tech-government collaboration, especially regarding the AI arms race, and expressed optimism about the incoming administration’s potential to tackle government challenges.

Wedbush Securities analyst Daniel Ives has highlighted an opportunity for Palantir to address inefficiencies within the U.S. government, particularly within the Washington, D.C. area. Ives believes that the company could capitalize on these inefficiencies to make significant progress in its operations. In addition, Elon Musk and Vivek Ramaswamy have been involved in the formation of the Department of Government Efficiency (DOGE), which aims to streamline government operations.

Palantir (NASDAQ:PLTR) co-founder Joe Lonsdale was reportedly also involved in DOGE’s early planning stages. CEO Alex Karp has expressed his full support for DOGE and its co-leads, including Musk. In a December interview with Fox News, Karp aligned himself with DOGE’s efforts for government reform and commended Musk’s leadership in this initiative.