Trump’s Election Boosted Demand For Palantir Shares, Investor Says
Since the election, weve seen an uptick in interest in owning Palantir shares, said Jared Carmel, a managing partner of Manhattan Venture Partners, a boutique investment bank and fund manager that arranges trades in startup shares, and which owns a stake in Palantir.
Palantirs elevated stature was on display this week when its CEO, Alex Karp, joined the tech industrys biggest players in a pilgrimage to Trump Tower. Others in the room were top brass from Apple, Google, Microsoft, Amazon, and Facebook public companies each valued in the hundreds of billions of dollars. Karps Palantir, which is privately held, has a relatively small valuation of $20 billion.
Given Palantirs roster of customers which includes the FBI, the CIA, the Defense Intelligence Agency, the Securities and Exchange Commission, Immigration and Customs Enforcement, the militarys Special Operations Command and other federal agencies this face time with Trump and his closes advisors was particularly notable.
Omarosa and Palantir CEO Alex Karp
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Palantir, Carmel said, now appears to be in a strong position to expand its work with the federal government. Trump is nepotism 101. Any additional contracts that I imagine they could get, they will get.
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Investors including hedge funds, family offices, and venture capital funds have recently inquired about buying Palantir shares, Carmel said. Manhattan Venture Partners helps investors buy shares of tech startups that it believes have a good chance of going public soon, and it manages funds that invest in those companies.
Backing off his longtime reluctance to plan for an IPO, Karp said in October that he was now positioning the company so we could go public. Im not saying we will go public, but its a possibility.
A Palantir spokesperson did not immediately respond to a request for comment.
Its not just Manhattan Venture Partners that is getting interest in Palantir stock. This week, in a private Facebook group for Palantir alumni, one former employee said he had learned that EquityZen, a firm that arranges small sales of private company shares, was fielding investor demand for Palantir shares.
Im sure some of you guys got an email but EquityZen has some investor interest and has asked anyone that would like to sell to fill out their profile with # of shares, desired price, etc, the former employee wrote. Contacted by BuzzFeed News, EquityZen declined to comment.
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I would post more details, the former Palantir employee wrote, but in case theres a BuzzFeed troll (hi William), DM me if you didnt get the email and I can gladly send over.