Shares of Palantir Technologies (NYSE: PLTR) have advanced more than 250% year to date due to strong financial results. This was driven by strong demand for its artificial intelligence (AI) platform and excitement surrounding the company's addition to the S&P 500.

In a week when the broad market rally lost some steam, Palantir Technologies Inc. (NYSE: PLTR) ended the week on a tear. PLTR stock was up 9.13% at the close of trading on November 15. The catalyst for the price movement was the announcement that Palantir was leaving the New York Stock Exchange and would be listed on the NASDAQ exchange.

Palantir Technologies, the newest S&P 500 member, is the index's best performer in 2024 as of Nov. 15. It's the latest change at the top, and another one may be coming soon.Nvidia was the biggest S&P 500 leader in 2023 and ruled for much of 2024,