Rackspace Partnership Sends Palantir Up 2.7%, Lifting 7.66% EGGY Exposure
NestYield Dynamic Income ETF has a 7.66% weighting in Palantir, whose shares jumped 2.71% premarket after unveiling a Rackspace Technology partnership. Mizuho upgraded Palantir to Outperform with a $195 price target and technicals show RSI at 35.35 and MACD at -11.07, potentially influencing ETF flows.
1. Palantir-Rackspace Collaboration and Premarket Surge
Palantir announced a strategic partnership with Rackspace Technology to scale its Foundry and AIP deployments, prompting a 2.71% rise in premarket trading. Rackspace plans to expand its Palantir-trained engineering team from 30 to over 250 within a year, enhancing implementation and migration services for enterprise clients.
2. Analyst Upgrade and Technical Indicators
Mizuho raised its rating on Palantir to Outperform and set a $195 price target, reflecting bullish sentiment on its growth prospects. Technical metrics remain mixed: the RSI sits at 35.35 in neutral territory, while the MACD at -11.07 below its signal line signals ongoing bearish pressure.
3. EGGY ETF Exposure and Implications
NestYield Dynamic Income ETF holds 7.66% of its assets in Palantir, making the recent share jump a key driver of its performance. Any significant inflows or outflows tied to this ETF will likely amplify the impact of Palantir’s stock moves on overall NAV.