The last time Palantir traded that high was in 2021, and the stock didn't do well until over two years later. When Palantir reached its peak valuation in February 2021, the stock tumbled around 80% from its all-time highs. It had nothing to do with the business, as revenue kept growing during that time frame.

In a week when the broad market rally lost some steam, Palantir Technologies Inc. (NYSE: PLTR) ended the week on a tear. PLTR stock was up 9.13% at the close of trading on November 15. The catalyst for the price movement was the announcement that Palantir was leaving the New York Stock Exchange and would be listed on the NASDAQ exchange.

The change positions Palantir for entry into the Nasdaq 100 index, after it joined the S&P 500 several months back.