PTIR Jumps 18% as Palantir Stock Rallies Yet Again
Palantir's blowout earnings lit a fuse under a leveraged ETF that soared far beyond the stock itself, but the same mechanics that created those gains have quietly destroyed half the fund's value over the past year.
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The GraniteShares 2x Long PLTR Daily ETF (NASDAQ:PTIR) is ripping higher this session as the market — and especially technology stocks like Palantir Technologies (NASDAQ:PLTR | PLTR Price Prediction) — celebrated a weak jobs print that likely reduces the odds of a near-term rate hike by the Federal Reserve. This is especially important for stocks levered to the AI trade, as new compute requires enormous capex and therefore cheap debt. PTIR, a single-stock leveraged ETF that targets twice the daily return of Palantir shares, has had a fantastic week since Palantir reported blowout earnings on August 3rd, and today it’s up another 18%.
GraniteShares 2x Long PLTR Daily ETF (PTIR)
Over the post-earnings window from August 3 through August 6, the fund gained 45%, and it is up 54% over the trailing week. This is a complex, single-stock-linked leveraged product distinct from a diversified index ETF. It seeks twice the daily performance of Palantir stock and resets that exposure at the end of each session, typically using total-return swaps on a cash and Treasury collateral base.
The mechanic matters. Because leverage is reset daily, returns compound off a new base each session, and over multi-day and multi-week horizons the fund’s performance drifts from a simple 2x of the underlying. Volatility decay works against holders during choppy stretches, which is why PTIR is best used as a short-term tactical instrument rather than a buy-and-hold vehicle. The trailing figures make the point plainly: PTIR is down 43% year to date and down 51% over the past year, even as Palantir itself is down only 12% year to date and 13% over one year. A supposed 2x fund lagging its underlying that badly over a year is compounding decay in action.
Palantir Technologies (PLTR)
Palantir shares are quoted at $169.42, up 9% today and 28% over the trailing week. The Q2 report reset the growth story. Reported revenue of $1.94 billion grew 92.83% year over year, with U.S. commercial revenue at $764 million, up 149%, and U.S. government revenue at $809 million, up 90%. GAAP operating income was $912 million, a 47% margin, and net income reached $1.06 billion.
Guidance did the rest of the work. Full-year revenue was raised to a range of $8.15 billion to $8.158 billion, implying 82% year-over-year growth, with adjusted free cash flow guided to $4.5 billion to $4.7 billion. Q3 revenue was framed at $2.160 billion to $2.164 billion. CEO Alex Karp did not undersell it: “Demand for AI sovereignty has now been unleashed… This quarter was otherworldly: our U.S. commercial revenue grew 149% year-over-year, our overall revenue grew 93% year-over-year, and our Rule of 40 score climbed to 155%.” The beat marks Palantir’s 10th consecutive earnings beat.
What the Move Actually Tells You
Same catalyst, two very different payoff profiles. Palantir’s fundamentals reset higher on a 46% EPS surprise and a raised full-year outlook, and the stock repriced accordingly. PTIR converted that single-day repricing into an outsized daily return because it is engineered to double Palantir’s session move. That amplification cuts both ways, and the fund’s 51% one-year decline against Palantir’s 13.16% one-year decline is the receipt for how daily reset mechanics behave when the underlying chops around. Use the product for what it is: a short-window tactical bet on Palantir’s next session rather than a proxy for owning the stock.
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I've spent more than 15 years inside enterprise software, working alongside the finance, sales operations, and HR leaders who run the revenue engines at some of the largest tech companies in the country.
My day job is helping enterprise executives make smarter decisions about retention, compensation, and growth. These are the same operational levers that show up in every earnings report investors actually read. That perspective shapes my writing for 24/7 Wall St.
The headline numbers are easy. The interesting stuff is underneath: how companies make money, what executives are worried about, and what any of it means for the person checking their 401(k) on a Sunday afternoon. I write about personal finance and business as someone who has spent her career inside the rooms where these decisions get made.
