Had you invested $100 into the stock three years ago (with Aug. 14, 2022, as the starting point), your investment would be worth over $1,850. Calling those returns impressive would undoubtedly be an understatement.

While the operational momentum is clearly solid, investors should pay closer attention to the risks. History shows Palantir stock can fall hard as sentiment shifts.

Palantir is riding twin engines of growth with its commercial and government contracts. Will it be enough to sustain its valuation?