RTTNews | Aug 18, 2021 12:25PM EDT

12:25 Wednesday, August 18, 2021 (RTTNews.com) - Colorado-based tech company Palantir Technologies Inc (PLTR) is trading 5% higher after the company announced that it has invested $50.7 million in gold bars anticipating another "back swan" incident. The company is accepting payments in gold from their clients for their services.

Palantir had previously said that they would accept Bitcoins as well as a form of payment. Shyam Shankar, the COO of the company said, "You have to be prepared for a future with more black swan events."

The company has reportedly stored its '00-ounce gold bars in a North-East US facility. "The company is able to take physical possession of the gold bars stored at the facility at any time with reasonable notice," said the company.

The shares of the company are currently trading at $25.44, up $1.47 or 6.13% from their previous close at $23.97 on Tuesday. The shares opened at $24.07 in the morning and in the 52-week period, the shares have ranged between $8.90 and $45.00.

Read the original article on RTTNews ( https://www.rttnews.com/3219691/palantir-shares-up-5-after-51-mln-investment-in-gold-bars.aspx)

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