Palantir (PLTR) had its direct listing reference price at $10 on September 30, 2020. The stock surged to $45 by January 2021, then crashed to $6 by December 2022. As AI demand revived in 2023-2024, PLTR recovered to $20-$30. A $1,000 investment at the $10 reference price is worth approximately $2,000-$3,000 by mid-2024 — though the ride was extremely volatile.