Cathie Wood's ARK Laps Up $4M Of Palantir Stock As Rally Extends On AI Wave
Portfolio Pulse from Shanthi Rexaline
Cathie Wood's Ark Invest purchased 339,570 shares of Palantir Technologies (NYSE:PLTR) worth $4.02 million through three of its ETFs. The stock has rallied about 53% since its Q1 results on May 8, driven by better-than-expected results and a focus on artificial intelligence.
May 23, 2023 | 9:29 am
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POSITIVE IMPACT
Ark Next Generation Internet ETF (NYSE:AKRW) bought 42,162 shares of Palantir, increasing its exposure to the company's AI focus and strong Q1 results.
The purchase of Palantir shares by AKRW increases its exposure to the company's growth potential, driven by its focus on artificial intelligence and strong Q1 results. This could lead to a positive short-term impact on the ETF's performance.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
Ark Fintech Innovation ETF (NYSE:ARKF) purchased 54,250 shares of Palantir, increasing its exposure to the company's AI focus and strong Q1 results.
The purchase of Palantir shares by ARKF increases its exposure to the company's growth potential, driven by its focus on artificial intelligence and strong Q1 results. This could lead to a positive short-term impact on the ETF's performance.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
Ark Innovation ETF (NYSE:ARKK) purchased 243,158 shares of Palantir, increasing its exposure to the company's AI focus and strong Q1 results.
The purchase of Palantir shares by ARKK increases its exposure to the company's growth potential, driven by its focus on artificial intelligence and strong Q1 results. This could lead to a positive short-term impact on the ETF's performance.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
Ark Invest's purchase of 339,570 Palantir shares worth $4.02 million indicates confidence in the company's AI focus and strong Q1 results.
Ark Invest's purchase of Palantir shares signals confidence in the company's growth potential, driven by its focus on artificial intelligence and strong Q1 results. This could lead to a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100