Veteran investor sets his sights on Palantir, SoFi and Rocket Lab

Stephen Guilfoyle is going long.

While football season kicked off last week, TheStreet Pro contributor and veteran investor is looking beyond the gridiron to the sphere of investing.

Related: Palantir stock surges on big S&P 500 boost for data analytics group

Guilfoyle recently shared his thoughts about going long on three stocks. And when we say long, we're talking real long. Like passing on to the following generation long.

"These are long-term investments that I accept as true with have an opportunity to have a large positive impact at some point of the longer term," he wrote on Sept. 6. "These investments might be for me, but most more than likely, these investments are for my youngsters and for Guilfoyles I in truth have not even met yet."

This has been a sort of queasy time for the market, with Bespoke Investment Group noting that "September didn’t start well."

Palantir CEO: 'Playbooks of the past now no longer working'

"Since 1953 when the 5-day trading week in its current form began, this year ranks because the worst first week for the S&P 500 on record," the firm said in a Sept. 9 newsletter. "Ahead of this year, the record for worst start off to kick off the ninth month of the year turned into 2001 with the choice years being 1987, 2008, and 2015."

The usage of a basketball analogy, Bespoke said "these years are to bulls what the Detroit Pistons were to the remainder of the NBA at some point of the late Eighties and early 1990s."

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"The market is looking to determine just how demanding or soft this landing is going to be," Guilfoyle said. "Markets are also looking to determine if the Fed should kick off their fresh and more uncomplicated brand of monetary policy on September 18 with a small (25 basis point) or large (50 basis point) short-term rate cut."

Guilfoyle pointed to Palantir Technologies (PLTR) , Rocket Lab USA and SoFi Technologies, three stocks that he's "been accumulating on weakness for quite your time now."

Palantir turned into surging on news that the info-analytics company, which has been trading publicly for only four years, shall be added to the S&P 500 as of Sept. 23.

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The Denver data-analytics group, which went public in 2020, has added more than $35 billion in market value at some stage within the last year, replacing stalwart American Airlines (AAL) at some point of the S&P 500.

Last month, Palantir posted quarterly profit of 6 cents a share as sales surged 27% thanks partly to surging demand for its AIP Logic platform, which tests and improves man made-intelligence-related strategies.

An infinite boost in commercial-division sales indicated that Palantir, which turned into cofounded by the billionaire investor Peter Thiel, is successfully expanding its overall business outside its legacy government-client list.

"The playbooks of the past are now no longer working," CEO Alex Karp said in his letter to shareholders. "And even the other folks who had believed in them now know this."

More recently, on Sept. 9, Palantir and oil giant BP BP said they were extending their strategic relationship and introducing new man made intelligence capabilities with Palantir’s AIP software as they build on relationship that started in 2014.

Guilfoyle: RocketLab selloff an opportunity

Guilfoyle said that Rocket Lab USA (RKLB) had been trading lower "and is now testing the highs of July," prompting him to make the many of the selloff "and add to this long position at a value that I in truth have not seen in a month and a 0.5."

More Tech Stocks:

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Rocket Lab, which is up nearly 11% year-to-date, recently beat Wall Boulevard's second-quarter earnings expectations. Founder and CEO Sir Peter Beck said "Q2 turned right into a tremendous quarter for Rocket Lab in quite a wide range of how but especially on the topic of revenue."

"By owning launch and spacecraft, we’re at a definite advantage on the topic of organising our own space capabilities or constellations," Beck told analysts at some stage within the company's Aug. 9 earnings call. "We're able to build and launch our own spacecraft at cost and we don’t should wait in line for limited launch capacity."

Last week the aerospace company said it had set the launch window for its 53rd Electron Launch, the second of 5 dedicated launches for the French company Kineis.

The “Kineis Killed the RadIOT Superstar” mission is scheduled to launch from Rocket Lab Launch Complex 1 in Mahia, New Zealand, during a 14-day window that opens on Sept. 17, Rocket Labs said.

Investor Guilfoyle lauds SoFi CEO

After which there's SoFi Technologies. (SOFI) Guilfoyle turned into impressed with Chief Executive Anthony Noto most up-to-date appearance on CNBC, because the previous U.S. Army Ranger said that the fintech "is seeing improved deposits, improved net flows and improved spending."

Guilfoyle said SoFi stands to make the many of the U.S. Supreme Court's most up-to-date decision now no longer to reinstate the Biden administration’s student loan repayment plan, which aims to lower monthly payments for millions of borrowers.

“By taking the weight off of the taxpayers and placing it back on the borrowers, this fashion of ruling obviously plays well for lenders kind of like SoFi Technologies,” he said.

Related: Veteran fund manager sees world of pain coming for stocks