A few days ago, Palantir announced that it is moving its listing from the NYSE to the Nasdaq. Shares of Palantir are expected to begin trading on the Nasdaq on Nov. 26.

Now the software company is anticipating entry into a new index, and investors are celebrating the move.  Palantir said Thursday that it plans to switch its listing to the Nasdaq from the New York Stock Exchange,

Palantir Technologies stock (NASDAQ: PLTR) has had a solid run, rising by almost 4x since the beginning of the year to about $66 presently.

Palantir Technologies shares jumped Friday after the analytics software provider said it is shifting its listing to the Nasdaq from the New York Stock Exchange.

After today's gains, the stock now trades at a price-to-sales ratio of 54, and a price-to-earnings ratio close to 200. While the company has shown off accelerating revenue growth and expanding profit margins in its recent quarterly reports, the stock is very much priced for perfection.

Palantir Technologies shares are trading higher in Thursday's after-hours session after the company announced it will transfer its stock listing to the Nasdaq.

Certain hedge fund managers sold Palantir shares and bought Nvidia shares in the third quarter. Palantir is a recognized market leader in artificial intelligence and machine learning platforms. Nvidia's leadership in data center GPUs and AI accelerators is reinforced by its CUDA software.