Business

Palantir Grabs $21 Billion Valuation With Direct Listing as Trading Begins

Palantir Grabs $21 Billion Valuation With Direct Listing as Trading Begins

Palantir Technologies Inc. grabbed a valuation of roughly $21 billion in its trading debut on the New York Stock Exchange, as it became the latest technology company to try its hand at a direct listing.

The stock closed at $9.50, higher than the $7.31 and $9.17 average prices where the stock changed hands in private trades in August and September, respectively. It ended 31% above the reference price of $7.25 a share, a guidepost that is set by the NYSE where no money changes hands.

The…

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