Palantir (NASDAQ:PLTR) had a topsy-turvy week, yet its upward trajectory remained largely unaffected by the AI chatter surrounding DeepSeek.

Palantir's stock is detached from reality as it trades at an irrationally exuberant price. Find out why we have recently opened a short position in PLTR.

Palantir Technologies ( PLTR -4.48%) was one of the hottest artificial intelligence stocks on the market last year. Its 340% return in 2024 made it the single best-performing member of the S&P 500 ( ^GSPC -1.46%). However, Dan Ives at Wedbush Securities sees the stock moving even higher. And he recently gave shareholders two reasons to be thrilled:

Palantir Technologies (PLTR) remains one of the most compelling tech stocks today. As an artificial intelligence (AI) powerhouse, the company is recognized for its expertise in big data analytics and securing government contracts.