Palantir Technologies (NYSE:PLTR) just made a move that has slipped under the radar recently. The company bought 1,040,557 shares of Surf Air Mobility (NYSE:SRFM), which is a tiny $80 million flying car company.
SRFM stock has doubled in the past week as a result, but the interest here has still been quite limited, considering anything attached to Palantir immediately gets slapped with a massive premium by Wall Street. Immediately after the surge, management announced a $27 million offering, and the stock plunged.
This post originally appeared at Money Morning.