Palantir Technologies, Inc. (NYSE:PLTR) shares pulled back on Friday after an analyst downgraded the stock, and Cathie Wood’s Ark Invest used the weakness as a buying opportunity.
What Happened: Ark Invest’s flagship exchange-traded fund, the Ark Innovation ETF (NYSE:ARKK) on Friday bought 777,143 shares of Palantir, and the firm’s Ark Next Generation Internet ETF (NYSE:ARKW) and Ark Fintech Innovation ETF (NYSE:ARKF) added 153,662 shares and 100,802 shares, respectively, daily trade disclosure from the firm showed.
Palantir ended Friday’s session down 1.66% at ...