Shares of Palantir Technologies Inc. PLTR, +14.44% were rallying 13% in afternoon trading after Cathie Wood's Ark Investment disclosed the purchase of 1.26 million shares Wednesday across several of its funds. The Ark Innovation ETF ARKK, +0.36% added 912,193 shares of Palantir Wednesday, while the Ark Fintech Innovation ETF ARKF, +0.56% added 201,697 shares.
Palantir stock shoots higher after Cathie Wood's ARK discloses recent purchase of 1.26 million shares