GraniteShares 2x Long PLTR Daily ETF jumps as Palantir’s Q2 earnings beat and weak jobs data fuel AI-driven rally.
GraniteShares 2x Long PLTR Daily ETF (NASDAQ:PTIR) climbed 18% as Palantir Technologies (NASDAQ:PLTR) reported 93% revenue growth and its 10th consecutive earnings beat. The rally extended PTIR’s post-earnings gain to 45% over three sessions, outpacing PLTR’s 29% rise.
PTIR, a single-stock leveraged ETF targeting twice the daily return of Palantir, has surged 54% over the past week. However, its daily-reset mechanism has led to a 51% decline over the past year, compared to PLTR’s 13% drop, due to volatility decay.
The gains accelerated after a weaker-than-expected jobs report reduced expectations for a near-term Federal Reserve rate hike. Lower borrowing costs benefit AI-linked stocks like Palantir, which rely on high capital expenditures for compute infrastructure.