Cathie Wood’s ARK innovation added more than 5 million shares of Palantir. This more than doubles the fund’s stake, according to Seeking Alpha. The company took advantage of Thursday’s stock dip following the lockup expiry.
- Investment in Palantir comes as ARK also added 90,000 shares of Tesla late Wednesday, with the electric vehicle maker being the top holding in the ETF
- ARK Autonomous Technology & Robotics ETF and ARK Next Generation Internet ETF also increased their positions in Tesla this week.
ARK Innovation ETF and investee stocks are currently gaining. ARKK is up 2.44%, PLTR: NYSE is up 17.16%, TSLA: NASDAQ is up 0.50%