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GraniteShares 2x Long PLTR ETF surges 18% on Palantir's strong earnings and weak jobs data easing rate hike fears

Company Fundamentals
07 Aug 2026
24/7 Wall Street
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Bullish
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The GraniteShares 2x Long PLTR Daily ETF (PTIR) jumped 18% following Palantir Technologies' impressive Q2 earnings report and a weak U.S. jobs report that lowered the chances of an imminent Federal Reserve rate hike. Palantir's revenue grew nearly 93% year-over-year, with strong growth in both U.S. commercial and government sectors, leading to raised full-year revenue and cash flow guidance. PTIR, a leveraged ETF designed to double Palantir's daily stock moves, has gained 54% over the past week but remains a risky short-term trading tool due to daily leverage reset mechanics that cause performance decay over longer periods. Investors should use PTIR for tactical bets rather than long-term holding, while Palantir's fundamentals suggest strong growth driven by AI demand.

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