U.S. stocks are drifting Thursday as the market’s big burst following Donald Trump’s election continues to cool. The S&P 500 was 0.1% lower in midday trading but still near its all-time high set on Monday.

There have been few better stocks to own over the past three months than Palantir ( PLTR 1.42%). The stock more than doubled in that time, far outperforming both indexes and other market leaders. This performance can be traced to several events, notably Palantir's inclusion in the S&P 500 in September and its blowout Q3 earnings.