PLTR - What's Going On With Palantir's Stock? | Benzinga
Palantir Technologies, Inc. (NYSE:PLTR) shares are moving Thursday. The stock dipped following the company's first-quarter earnings report released on Monday.
The Details:
Palantir shares have dipped nearly 5% over the past five days and Ark Invest, led by Cathie Wood, has been buying the dip.
Ark Invest's ETFs Ark Fintech Innovation ETF (NYSE:ARKF), ARK Innovation ETF (NYSE:ARKK), ARK Autonomous Technology & Robotics ETF (BATS:ARKQ), and ARK Space Exploration & Innovation ETF (BATS:ARKX) purchased a combined total of 1,353,667 shares of Palantir for approximately $29 million on Tuesday.
Palantir's first-quarter revenue increased 21% year-over-year to $634 million, beating the consensus estimate. However, the stock tumbled as investors reacted negatively to the company’s light guidance for the second quarter and the full year.