Cathie Wood's Ark uses pullback in Palantir to buy more shares
- Stocks pause as key inflation data eyed
- Citi says S&P 500 not in a bubble, tells investors to 'buy pullbacks'
- eBay delivers upbeat guidance, Q4 results top estimates; unveils $2B stock buyback
- JPMorgan's Kolanovic says the S&P 500 rally is at risk from a narrative shift
- Apple (AAPL) discontinues its electric car project, redirects team to focus on GenAI
Cathie Wood's ARK Investment Management funds made their first purchase of shares in data-analysis firm Palantir (NYSE: PLTR) in about two and a half months.
ARK Innovation ETF (ARKK) acquired nearly 1.2 million shares, ARK Next Generation Internet ETF (ARKW) bought 232,050 shares, and ARK Fintech Innovation ETF (ARKF) purchased 145,910 shares.
This move comes as Palantir's stock has declined by 19.7% from its high on November 20, but it remains up 167% year-to-date.
Palantir shares are up 1% in pre-market Thursday trade. The stock fell on Wednesday after co-founder Stephen Cohen disclosed he sold nearly $13 million in stock.
By Senad Karaahmetovic
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Arko Corp. (ARKO) Misses Q4 EPS by 6c, provides guidance
- Expert tells how to navigate the transition from entrepreneur to investor
- Why invest in a balanced portfolio now?
Create E-mail Alert Related CategoriesHedge Funds, Hot List
Related EntitiesARK, Senad Karaahmetovic
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!