Cathie Wood Rushes To Load Up $36M In Palantir As Its Stock Crashes 9%
Cathie Wood’s money managing firm Ark Invest on Tuesday bought 1.48 million shares— estimated to be worth $35.98 million— in $Palantir(PLTR.US$ on the dip and after months of booking profit in the stock.Shares of the Peter Thiel-backed company closed 9.35% lower at $24.25 a share on Tuesday.
The company, which supplies data analytics software to government agencies, beat third-quarter revenue and met earnings estimates lifted by low-margin government focused contracts, disappointing investors seeking more growth on the commercial side.Palantir’s revenue grew 36% year-over-year to $392 million, slowing from the previous two quarters. The company drew a bulk of that revenue from government contracts in the third quarter.
Here are some of the other key Ark Invest trades on Tuesday:
Bought 158,350 shares — estimated to be worth $5.8 million — in $Robinhood(HOOD.US$ . Shares closed 3.37% lower at $36.7 a share on Tuesday.
Sold 238,235 shares in $Pfizer(PFE.US$, estimated to be worth around $11.27 million.
Sold 238,235 shares in $Pfizer(PFE.US$, estimated to be worth around $11.27 million.
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Stevenang :
102472973 :
102472973 : Bull
FiveHundredCents OP 102472973 :
FiveHundredCents OP 102472973 : Bullish