Palantir Shares Surge 11% as Cathie Wood’s ARK Loads up Further on Palantir Stock

Tiger Newspress2023-05-23

Palantir stock jumped over 11% in morning trading as various ARK funds added a combined $4 million worth of Palantir shares Monday.

Cathie Wood's ARK Investment continued loading up on shares of Palantir Technologies Inc. on Monday, adding about $4 million worth of stock across multiple funds.

The ARK Innovation ETF (ARKK) added 243,158 shares of Palantir (PLTR) on the day, worth about $2.9 million based on Monday's closing price of $11.84. The ARK Fintech ETF (ARKF) added 54,250 shares of Palantir, worth about $642,000 based on Monday's closing levels. The ARK Next Generation ETF (ARKW) added 42,162 shares of Palantir, worth just under $500,000 as of Monday's close.

Ark disclosed the activity in its daily trade information posted to its website.

The purchases come after ARK Investment added 1.26 million shares of Palantir across several of its funds last Wednesday.

Palantir shares have shot up more than 50% since just before the company reported earnings earlier this month. The company showed off its second straight quarter of GAAP profitability and teased "massive potential" related to artificial intelligence, though some analysts saw more negative signals in the latest results.

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Comments

Guavaxf30
2023-05-24
Guavaxf30
Rule number one. When Katie buys, you sell sell sell !!!
D.Billions
2023-05-24
D.Billions
Buy high and sell low 🤣🤣🤣
Merdeka1981
2023-05-23
Merdeka1981
Last year I remembered she was the one who off loaded Palantir from her portfolio and that caused the stock price to plummet. Now she changed her mind?

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