TOST - Cathie Wood's Ark Invest Doubles Down On Palantir Amid Correction Scoops Up Over $27M Worth Of Stock | Benzinga
In a significant move on Wednesday, Cathie Wood-led Ark Invest made a notable trade by purchasing over $27 million worth of shares in Palantir Technologies Inc (NYSE:PLTR). This decision comes amidst a period of fluctuating performance for Palantir, drawing considerable attention in the investment community.
The Palantir Trade
Ark purchased a total of 1,578,738 Palantir shares through ARK Innovation ETF (NYSE:ARKK), ARK Next Generation Internet ETF (NYSE:ARKW), and Ark Fintech Innovation ETF (NYSE:ARKF). The transaction was valued at $27.04 million. Palantir shares closed nearly 6.4% lower at $17.13 on Wednesday.
Ark Invest’s acquisition of Palantir shares signals a strong vote of confidence in the data analytics company. This move aligns with Wood’s history of investing in disruptive technologies, as highlighted in a recent Benzinga article. Despite recent challenges, including a decline in Palantir’s stock value, Ark’s investment could be seen as ...