News: Palantir Stock Jumps After a Big Purchase by Cathie Wood’s Ark

Palantir's stock surged by 13% on Thursday, approaching a new 52-week high.

This increase follows the announcement from Ark Investment Management, led by innovation investor Cathie Wood, revealing a significant acquisition of Palantir shares on Wednesday.

Ark Investment Management disclosed that it purchased over 900,000 shares of Palantir for its flagship ARKK exchange-traded fund, representing a total investment value of approximately $9 million based on Wednesday's closing price.

Additionally, Ark reported acquiring approximately 350,000 Palantir shares for two other ETFs.