What happened Shares of Palantir Technologies (NYSE: PLTR), which had drifted lower for most of this week, caught a big updraft on Friday and are flying 16.4% higher as of 1:45 p.m. EST. Investors appear to be responding to an announcement from Palantir yesterday, in which the government IT contractor provided details on its upcoming inaugural Demo Day to be held at 4:30 p.m. EST on Jan. 26. Image source: Getty Images. So what At this event, Palantir plans to demonstrate to the public for the first time ever "the latest developments to its software platforms, Foundry and Gotham," giving ordinary investors a chance to see "how Palantir's commercial and government customers -- including manufacturers, defense agencies, and others -- use its software." One can imagine how an event like this might increase interest in Palantir's products, and in Palantir stock. But on top of that, the company also noted in its announcement that "in Q4 2020, Apollo managed 150,000+ upgrades per week across environments, up from 40,000+ upgrades per week in Q2 2020." Now what While not stated in terms of dollars and cents, revenue or earnings, that last line of Palantir's event announcement speaks to the astounding growth in sales volume, at least, of Palantir's projects. This is a nearly fourfold increase that the company describes -- and not just year over year, but within the same fiscal year. And reading it, I can only presume that investors are wondering (as I know I am) what that increase might translate into on a year-over-year basis. For context, according to data from S&P Global Market Intelligence, Palantir booked revenue of $743 million in 2019, while analysts are forecasting that full-year 2020 sales might amount to $1.07 billion. The information Palantir let slip in its inaugural Demo Day suggests the true number of Palantir's sales might be much larger than that. 10 stocks we like better than Palantir Technologies Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Palantir Technologies Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Rich Smith has no position in any of the stocks mentioned. The Motley Fool owns shares of Palantir Technologies Inc. The Motley Fool has a disclosure policy.Source