how to buy palantir stock ipo
Source: istock, Palantir

How Investors Can Buy Into the Palantir Stock IPO


Sep. 23 2020, Updated 12:22 p.m. ET

Palantir Technologies plans to go public on Tuesday, Sept. 29. The data analytics company is pursuing a direct listing on the NYSE under the ticker symbol "PLTR." How can you buy into the Palantir Technologies stock IPO?

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When is the Palantir stock IPO date?

Palantir Technologies' direct listing is scheduled for Sept. 29. Initially, the company planned to start trading on Sept. 23. The company will sell some of its existing shares through a direct listing where no new shares are issued and no new funds are raised. The existing stockholders would resell up to 257 million shares.

palantir how to buy ipo
Source: istock
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There aren't any underwriters to the Palantir IPO. However, Morgan Stanley, Credit Suisse, and Goldman Sachs are acting as financial advisors.

Where to buy the Palantir stock IPO

You will need a stock trading account before you can buy Palantir stock. If you’re a beginner, you need to open a stock trading account with online brokers like Robinhood, Webull, Vanguard, SoFi Invest, and M1 Finance. Next, you need to fund your brokerage account through a bank transfer, debit card, or credit card. Then you can find the stock by its name or ticker symbol and start buying.

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How to buy the Palantir stock IPO on Robinhood?

Before you can buy Palantir stock on Robinhood, you need to open a stock trading account with Robinhood. The online discount broker offers three account types — Robinhood Instant, Robinhood Gold, and Robinhood Cash. Investors can set up a Robinhood account for free. The broker doesn’t charge commissions to execute trades. You can buy and sell stocks on Robinhood after you have opened and funded your brokerage account.

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Should you buy the Palantir stock IPO?

Palantir was founded in Palo Alto, Calif. in 2003. The data analytics company develops software for large companies and government agencies. Palantir’s software is used across 36 industries and about 150 countries, excluding China.

Investors should consider buying into the Palantir Technologies stock IPO based on the company's strong guidance. On Sept. 22, Palantir said that it expects sales growth of about 42 percent to $1.06 billion in 2020. In 2019, the company reported sales growth of 25 percent to $742.6 million. For 2021, the company will likely report sales growth of higher than 30 percent. In the third quarter of 2020, Palantir expects to report sales of $278 million to $280 million, which represents year-over-year growth of 46 percent to 47 percent.


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