With above-average trading volume today, PLTR is known as one of Wall Street's favorite stocks today because of its growing popularity in the eyes of traders. The other ones: 3D furniture BBBY up 12% Jol FUBO up 6.25%, BlackBerry BB up 9%, game station GME up 51%.

Palantir was founded in 2003 and released the Gotham software platform in 2008, focusing on government intelligence and defense. Palantir technology provides organizations with solutions for managing large and different data sets in an attempt to gain insight and drive operational results.

Why did it soar?

Investors seem to be responding to a statement issued by Palantir yesterday, in whichThe U.S. government IT contractor provided details of the upcoming first demonstration Day Demo Day to be held at 4:30 EDT on January 26th.

At this event, Palantir plans to show the public for the first time "the latest developments in its software platform, Foundry and Gotham", giving ordinary investors a chance to see "how Palantir's commercial and U.S. government customers-- including manufacturers, defense agencies, etc.-- use its software. "

It is conceivable that such an event could increase interest in Palantir products and stocks. But in addition, the company noted in its announcement: "in the fourth quarter of 2020, Apollo completed more than 150000 upgrades per week in all environments, up from more than 40, 000 in the second quarter of 2020. "

Although the last line of the Palantir launch did not mention dollars and cents, income or earningsBut at least it illustrates the astonishing growth in sales of Palantir projects. According to the company, the increase is almost four times that of last year, and in the same fiscal year.

According to market data, Palantir's revenue in 2019 was $743 million, while analysts predict full-year sales could reach $1.07 billion in 2020.

The information revealed by Palantir on its first demonstration day suggests that the true sales of Palantir may be much more than that.