Palantir Technologies (NYSE:PLTR) has been a lightning rod for investor debate over the past few quarters as the stock has surged significantly. It is a niche company that works with the defense and intelligence agencies and the stock has surged over 400% in the past year as these contracts have been very sticky and expanding very fast.

Palantir was a business worth more than Wells Fargo, one of the top banks in the entire country. It's also worth more than McDonald's, Walt Disney, and many more top blue-chip companies. Its valuation doesn't make sense, and if it was a speculative buy before this recent rally, it's even more of one now.