Palantir Technologies, the data-analytics company founded by Peter Thiel, filed for a direct listing on the New York Stock Exchange (NYSE) on September 21. The company’s unconventional approach to going public has drawn comparisons to the creation of the ‘Frankenstein monster.’ Palantir’s direct listing, which allows existing shareholders to sell their stakes directly to the public without issuing new shares, is a departure from the traditional initial public offering (IPO) process. The company’s unconventional approach has raised concerns among some investors, who argue that the lack of a pricing mechanism could lead to volatility. Palantir’s filing also revealed that the company lost $569.5 million in the first half of 2020, raising questions about its profitability. Despite these concerns, Palantir’s shares were trading up 10% in after-hours trading on the news.
