Stock volatility is normal for many growth stocks, so it's not to be completely avoided. But if you're buying Palantir right now, when the stock has already surged and its valuation is sky-high, you should know that substantial drops could come on shifting macroeconomic data or even some non-important company news.

Palantir is gaining traction across government and enterprise fronts, with PLTR stock trading into premium territory. But can it punch past the $160 Street-high ceiling?