Commerce Policy | Its name comes from a mystical, spherical object in the "Lord of the Rings" that allows its owner to "see from afar." Aug. 26, 2020; About a month before ... Palantir ended up winning the contract, which accounts for $1.7 billion of the $2.9 billion in potential federal contract money it has won since 2016. Given the relatively untested nature of direct listings and their complexities, some people close to the Palantir and Asana offerings had told The Wall Street Journal they weren't thrilled that two were happening on the same day. Peter Thiel, President Trump’s Golden Boy, Is Finalizing a Digital Surveillance Engine for Mass Deportations, NVIDIA GeForce RTX 3070 8 GB Graphics Card Benchmarks Leak Out, An RTX 2080 Ti Replacement For $499 US, NVIDIA RTX 3070 3DMark Performance Leaked – Actually Faster Than An RTX 2080 Ti, Quad NVIDIA GeForce RTX 3090 Graphics Cards Tested In A Single System, Insane Performance With Up To 1700W Power Consumption, The PlayStation 5 Cooling Performance Is No Different Between Vertical And Horizontal Installation. All Rights Reserved.

"Today further advanced the direct listing as an option for companies looking to access the public market," said NYSE Vice Chairman and Chief Commercial Officer John Tuttle. In order to add further context, we will examine the current 2020 TTM P/S multiples of Palantir’s major sector peers: (All figures represent P/S multiples and have been sourced from Koyfin). The third quarter's average sale price sits in a range that includes shares trading hands for as much as $11.50 each and as little as $4.17 each.

U.S.-listed IPOs have raised nearly $100 billion in 2020, making it the biggest year for fundraising since the tech boom and potentially a record-setting year if the pace keeps up.

At the time, the round established Palantir as the fourth-highest valued tech startup after Airbnb, Xiaomi, and Uber.

The U.S. Software and Programing Industry’s TTM (Trailing Twelve Month) Price-to-Sales (P/S) ratio currently stands at 9.04x, as of Q2 2020. (Reporting by Anirban Sen and Niket Nishant in Bengaluru, Joshua Franklin and Chibuike Oguh in New York; Editing by Anil D'Silva and David Gregorio), NYSE invites companies to test direct listing process, Tencent-backed Miniso Group looks to raise up to $562.4 million in IPO. The company's valuation could thus be well above $20 billion if public investors are willing to buy the shares where they've traded most recently in the private market. "For the direct listing to gain traction as a new structure, investors will have to make money," she added. Palantir decided in the middle of 2019 to go public, with an original timetable to complete the listing in the second half of 2021 but the COVID-19 pandemic accelerated its plans, according to Chief Operating Officer Shyam Sankar. In Slack channels, former employees complained about problems getting into Shareworks as the system experienced timeouts and errors saying the website was down, according to people familiar with the communications. Some posts on Wccftech.com may contain affiliate links.

By the time markets closed, Palantir's stock was worth less than it was earlier in the day. Palantir opted to go public through a direct listing rather than a traditional initial public offering, meaning it did not raise any money but allowed its investors to sell more shares.

Write to Corrie Driebusch at corrie.driebusch@wsj.com and Maureen Farrell at maureen.farrell@wsj.com, NYSE invites companies to test direct listing process, Tencent-backed Miniso Group looks to raise up to $562.4 million in IPO. In August, the volume-weighted average price was $7.31 and in September, $9.17. Palantir would also gain the ability to publicly sell shares later on. The average price rose to $7.31 in August from $5.34 in July and reached $9.17 on Sept. 1, the last day that private trades could occur.

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