Key Highlights

  • Palantir 2x ETF (CBOE:PLTL) was quoted up 9.68% at USD 75.16 on October 22, 2026, about twice the 3.4% to 4.7% range reported for Palantir shares on October 21, simple arithmetic on published moves.
  • Palantir's second quarter 2026 Revenue was USD 1.935 billion, up 93%, with U.S. commercial revenue of USD 764 million, up 149%, and an adjusted Operating Margin of 62%.
  • Full year 2026 revenue guidance is USD 8.15 billion to USD 8.158 billion, up 82%, an 11 point increase from the prior guide, and adjusted free Cash Flow was USD 1.22 billion in the quarter.
  • Palantir 2x ETF (CBOE:PLTL) is issued by Corgi Strategies, lists on the Cboe BZX Exchange, and the issuer cites a 0.45% expense ratio for most of its 2x Daily funds.

Palantir's Fundamentals

Palantir Technologies (NASDAQ:PLTR) reported second quarter 2026 results on August 4, 2026. Revenue was USD 1.935 billion, up 93%. U.S. revenue was USD 1.573 billion, up 115%, with U.S. government revenue of USD 809 million, up 90%. Net dollar retention was 157% and remaining deal value reached USD 13.1 billion, up 83%. The company counted 220 deals of USD 1 million or more, including 73 above USD 10 million. Adjusted gross margin was 86%, lowered by a raised cloud hosting commitment for one government customer, and the so-called Rule of 40 score was 155%. These numbers are unusually strong for a company of this size.

Recent Catalysts

On October 19, 2026 Knox Systems announced a Partnership to bring commercial software, including Palantir's, into the most tightly secured federal cloud environments. No financial terms were disclosed, and one published account called the link to the stock move an open question. Palantir rose about 4% to near USD 199 in the October 21 session as software shares rallied, with the iShares Expanded Tech-Software ETF up about 2%. Valuation is the main concern, described as steep, so little margin for error remains for any slowdown. The third quarter report, which is also the first since the Knox announcement,, expected in early November, will test government growth and the raised full year guidance.

How the 2x ETF Connects

The fund is issued by Corgi Strategies, lists on the Cboe BZX Exchange, and the issuer cites an expense ratio of 0.45% for most of its 2x Daily funds. Palantir 2x ETF (CBOE:PLTL) aims for twice Palantir's daily return using swaps, and the quoted gain of 9.68% fits roughly twice a 4.8% stock move. As simple arithmetic, a 2x fund that gains 9.68% one day and loses 9.68% the next ends about 0.94% lower, while the stock moving half as much each way ends about 0.23% lower. Palantir has produced large daily swings, so a 2x fund can lose ground over weeks even when the stock gains modestly. Investors should also note the fund is a derivative-based product with counterparty exposure, and its price per share is not a measure of valuation.

Where Things Stand

The answer is that Palantir 2x ETF (CBOE:PLTL) jumped because Palantir's shares rose with a software rally and fresh federal cloud news, and the fund doubles that move. The fundamentals are exceptional, with 93% revenue growth and a raised full year guide, but the valuation already reflects that. A 2x fund magnifies drawdowns as well as gains. The next test is the third quarter report, expected in early November.