While the operational momentum is clearly solid, investors should pay closer attention to the risks. History shows Palantir stock can fall hard as sentiment shifts.

Investors looking at the stock today may want to wait for a significant pullback in price before adding shares to their portfolio. It's unlikely that a $10,000 investment in Palantir today will make you a millionaire. Before you buy stock in Palantir Technologies, consider this:

Palantir stock is egregiously overvalued at a forward P/E ratio of well past 400. Bank of America analyst recommends investing in V2X stock.