The bottom line is that the attractiveness of stock prices, like beauty, is in the eye of the beholders. As long as enough investors think that Palantir's share price could continue rising, it will. For a bubble to burst, more investors must think there is a bubble than not. That might not happen with Palantir for a while.

Palantir Technologies Inc.'s exceptional Q4 report drove shares past $100, with revenue exceeding expectations. Click for my updated look at PLTR stock prospects.

The stock's ascension from $6 to over $100 in just over two years is one of Wall Street's most incredible hot streaks.