In a week when the broad market rally lost some steam, Palantir Technologies Inc. (NYSE: PLTR) ended the week on a tear. PLTR stock was up 9.13% at the close of trading on November 15. The catalyst for the price movement was the announcement that Palantir was leaving the New York Stock Exchange and would be listed on the NASDAQ exchange.

Palantir Technologies stock was gaining on Friday on its plan to switch its listing to the Nasdaq stock exchange. Investors seem to be hoping the software company will gain from the stock getting added to the Nasdaq 100—and the funds being forced to buy its shares.

That jump was driven by Palantir's announcement that it would be listing as a Nasdaq stock and that it expected to join the Nasdaq-100, which would trigger exchange-traded funds (ETFs) that track that index to buy the high-flying artificial intelligence ...