Palantir was the most expensive stock ever for a company of its size — until the selloff

Palantir Technologies has built a fervent base of support among retail investors who have sent the stock soaring nearly 2,000% above its $10 opening price from a direct listing five years ago.

Before Tuesday’s post-earnings selloff, Palantir’s stock

PLTR traded above $200 and the company had a market capitalization of $493 billion. On the software stock’s way up, it met a chorus of skeptics who chafed at its high valuation. That hasn’t been much of a roadblock for the shares, however, which largely kept charging higher despite pockets of volatility in recent years.