Jim Cramer Talked About These 17 Stocks After The Fed’s Rate Cut

11. Palantir Technologies Inc. (NASDAQ:PLTR)

Number of Hedge Fund Holders In Q3 2024: 43

Palantir Technologies Inc. (NASDAQ:PLTR) is a software firm whose shares are up a whopping 385% year-to-date. The share price gains are based on several factors. For starters, Palantir Technologies Inc. (NASDAQ:PLTR) has successfully shifted its narrative from being a government services provider to also catering to the corporate sector. Its US commercial sales grew by 70% in Q2, adding to investors’ optimism about the ability to introduce AI into government services. Additionally, Palantir Technologies Inc. (NASDAQ:PLTR)’s shares also gained 34% in the days following the election partly due to the Q3 earnings release beating analyst estimates. Cramer talked quite a bit about Palantir Technologies Inc. (NASDAQ:PLTR) during the show:

“Right now I want to talk about where, I do wanna mention, you mentioned Palantir. And Palantir is probably the stock that bounces the quickest, uh and it does bounce the quickest in part because of a piece of the defense reformation, which is written by Shyam Sankar, came out in October, I urge everyone to read it, it is so brilliant. Uh, about what’s wrong with the department, the monopsony that runs the defense department. . . .I will tell you, this is the team that I think will go with Musk.

“I mean they are basically saying look, we’re done with the idea that there’s basically these companies that are going to get their way, cost plus is really bad, and they talk about how basically there is like the five families, there’s these companies that control it, and they gotta be blown out entirely because they cost too much.

“You know David, I know that there is hype here, and I know that you know Alex Karp. The company’s bigger than Alex, and Shyam Sankar is, I think he’s amazing. And the defense reformation. They are in. They understand the procurement process. I salute them, and I back them.”