Cathie Wood Bought Over 1.26 Million Shares of Palantir and Sold Over $5.4 Million Shopify on Wednesday

Benzinga2023-05-18

Cathie Wood-led ARK Investment Management bought over 1.26 million shares of Palantir Technologies Inc at an estimated valuation of about $13 million based on Wednesday's closing price.The purchase ...

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AcidIce
2023-05-18
AcidIce
So the share price went up strongly is because of Cathy Wood or because it's really under valued? I think it's still over bought & should drop another 20% - 30% to be at all valued since most of their earning comes from government projects. It's like ST Engineering bull crap!

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Palantir stock has witnessed strong gains over the past month, registering over 17% returns. The shares have gained over 60% since the beginning of the year.Wood's funds seem to be on a buying spree as far as the Peter Thiel-co-founded Palantir is concerned, especially after the firm's strong earnings announcement. Last week, ARK bought a whopping stake worth $43 million in the company.Palantir’s first-quarter revenue increased 18% year-over-year to $525 million, which beat an average analyst estimate of $505.6 million. The company sees full-year revenue in a range of $2.185 billion to $2.235 billion against an estimate of $2.2 billion.What probably stood out is CEO Alex Karp's statement in his letter to shareholders where he said the company anticipates it will remain profitable each quarter through the end of the year. \"In addition, for the first time in our history, we earned an operating profit last quarter. We generated $525 million in revenue in the first quarter, a result that surpassed our initial guidance and yet still understates the magnitude of the opportunity in front of us,” he had said.Major Sale: Wood's funds sold Shopify Inc shares at an estimated valuation of over $5.4 million based on Wednesday's closing price.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9970684072,"gmtCreate":1684388916697,"gmtModify":1684390818906,"author":{"id":"3569382039983887","authorId":"3569382039983887","name":"AcidIce","avatar":"https://static.tigerbbs.com/25a5edd325094826cf6e8822874786ab","vip":1,"crmLevel":5,"crmLevelSwitch":1,"idStr":"3569382039983887","authorIdStr":"3569382039983887"},"htmlText":"So the share price went up strongly is because of Cathy Wood or because it's really under valued? 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It's like ST Engineering bull crap!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9970684072","repostId":1103876066,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":15,"commentSize":1,"repostSize":3,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1103876066"}