Palantir Technologies nyse Pltr Gains Spotlight As Cathie Wood Makes Bullish Play

Palantir Technologies (NYSE: PLTR) Gains Spotlight as Cathie Wood Makes Bullish Play

Palantir Technologies (NYSE: PLTR) stock grabs the limelight after Cathie Wood makes a bullish move.

Last week, Cathie Wood-led Ark Invest made notable moves within the market, focusing primarily on Coinbase Global (NASDAQ: COIN) and Palantir Technologies (PLTR).

The Coinbase Trade

Ark Invest executed significant sell-offs of Coinbase shares across three of its funds: ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and Ark Fintech Innovation ETF (ARKF).

The total volume of shares offloaded amounted to 54,215, totaling a transaction worth $13.15 million. This decision coincided with the ascent of Bitcoin (BTC/USD) towards a potential record high, edging closer to the $69,000 threshold. Coinbase shares closed at $254.17, down 0.95% on Monday.

The Palantir Trade

On the other hand, Ark Invest acquired 19,749 shares of Palantir, valued at $522,558, for its ARK Space Exploration & Innovation ETF (ARKX). This move follows Jim Cramer’s strong buy recommendation for Palantir in his “Lightning Round” segment.

Expanding its portfolio further, Ark Invest procured 89,602 shares of SoFi Technologies (NASDAQ: SOFI) for ARKF and 636,269 shares for ARKK. In addition, the firm secured 36,571 shares of Roku (NASDAQ: ROKU) for ARKK, supplemented by 8,260 shares for ARKW.

Palantir Technologies (NYSE: PLTR) Stock Performance

PLTR stock rose 1.38% in the pre-market trading on Tuesday after closing the regular trade at $25.35 on Monday. The traders had exchanged hands with 60,355,203 (60.35 million) shares compared to the average daily trading volume of 71.87 million.