Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Cathie Wood's Ark uses pullback in Palantir to buy more shares

Published 12/07/2023, 05:31 AM
Updated 12/07/2023, 05:33 AM
© Reuters.  Cathie Wood's Ark uses pullback in Palantir to buy more shares

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.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.