- Shares of the big data company Palantir began trading on Wednesday via a direct listing.
- The New York Stock Exchange established a reference price of $7.25 per share, valuing the company at about $16 billion ahead of its official debut.
- Palantir has yet to become profitable, raising questions from investors.
- Palantir also has faced criticism from activists for its work with Immigration and Customs Enforcement, which the company has acknowledged poses a risk to its business — partially because yielding to the criticism might endanger its business with government clients.
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Palantir, the secretive and often-controversial big data company founded by Peter Thiel, made its public markets debut on Wednesday with a splash, as investors bid up shares and gave the company a roughly $19 billion market capitalization.
Shares of Palantir began trading on the New York Stock Exchange on Wednesday through a direct