• Palantir's $127M share of a new US Army TITAN contract on 9/2
• 3 members of Congress disclosed buying 🦍⚡
• US commercial TCV up 153% YoY

Why now

The US Army awarded Palantir $127 million of a $192 million TITAN contract on 9/2, the same day AIG announced Palantir hired its former CEO, Peter Zaffino, as global head of financial services -- real, dated wins, not just AI hype. The bigger trend: Palantir's US commercial revenue grew 149% year-over-year in Q2, and US commercial total contract value jumped 153% to $2.13 billion. Three named members of Congress -- Michael Rulli, Gilbert Cisneros and Alan Armstrong -- have each disclosed buying the stock in the last 90 days.

The case

The trend agrees: PLTR sits above both its 50- and 200-day averages, up over 11% in the past month alone, backed by 4 straight quarters of earnings beats.

🚨 Risk: this is one of the most expensive stocks on the market -- price-to-sales above 77x, price-to-earnings near 144x -- and the average analyst price target is basically where the stock already trades, meaning the Street sees little further upside baked in at this price. A stretched valuation like this can give back a lot on any disappointment, government-spending headline, or just a rise in interest rates.