Cathie Wood-led Ark Investment Management on Tuesday snapped up 2.8 million shares, worth about $56.7 million, in Palantir Technologies Inc (NYSE: PLTR) after the data analytics company reported strong earnings on Tuesday. Shares of Palantir, which reported earnings before the market opened, were down to about $16.50 in premarket trading on Tuesday before staging a reversal that saw the stock close up 9.42% at $20.21.
Cathie Wood Loads Up $57M In Palantir As Stock Stages Reversal On Q1 Earnings Beat