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.