Could someone please explain this for a layperson such as myself? Why was Palantir one of the few companies able to do this before, and does that mean any company now can get listed on the stock exchange?
palantir didn’t raise new money. what they did was a secondary direct listing where existing shareholders just put their shares up for sale to create a public market for shares.
a primary direct listing was not allowed before this ruling. this means that companies can now both list existing shares for sale plus raise new money by auctioning off newly created shares instead of going through a traditional IPO.
Palantir was supposed to be a quiet little listing. The big institutions wanted to accumulate it at rock bottom prices before it's eventual rise into triple digits but the general public has caught on and it's getting pumped up.
Disclaimer: I bought 2500 shares at $11 and am up well over 150%.
