Palantir Technologies Inc. PLTR Shares are trading higher on Friday.

Yesterday, the company announced that it will transfer the listing of its Class A common stock to the Nasdaq Global Select Market of the New York Stock Exchange.

The company expects to begin trading as a Nasdaq-listed company on November 26.

According to Benzinga Pro, PLTR stock is up more than 196% in the past year. Investors can gain exposure to the stock through REX AI Equity Premium Income ETF AIPI.

Meanwhile, Palantir held its first-ever Developer Conference, DevCon 2024, on November 13 and 14, bringing together 150 top commercial and government builders, as well as tech leaders.

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The two-day event presented a series of product launches, hands-on development opportunities and a competitive environment aimed at accelerating innovation in data and technology.

A major highlight of the conference was the public launch of new features for AIP for developers.

This marks an important step in Palantir’s strategy to streamline backend development, enabling faster and more efficient transitions from prototype to production.

Among the new releases were updates such as Ontology SDK 2.0, improved Platform APIs and the Workflow Builder.

Palantir has been one of the hottest stocks of the year, gaining about 245% year-to-date, driven by the company’s positioning in the AI ​​space.

Palantir shares really took off in early November, after the company reported strong quarterly results, driven by “relentless” demand for AI.

Revenue increased 30% year over year due to continued strength in US customer base. Customer numbers grew 39% year-over-year after the company closed 104 deals worth more than $1 million during the quarter.

Price promotion: PLTR shares are trading 6.31% higher at $62.91 at last check on Friday.

Image via Shutterstock

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