Cathie Wood’s Ark Invest Picks Meta (META), Palantir (PLTR) Stock in Major Buy

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Cathie Wood’s Ark Invest made significant purchases of Meta (META) and Palantir (PLTR) stocks on Friday. Meta was an ongoing buy despite a minor bounce-back and ending the day with a 0.43% increase. Ark added $5.98 million worth of Meta shares in two sessions, having also bought shares after its Q1 financial results were revealed. Meta’s stock took a hit due to a cautious sales outlook for Q2 and heavy investment in artificial intelligence.

As an analyst, I would rephrase the given text as follows:

Ark Invest Buys Meta (META) Stock

On Friday, despite Meta’s stock recovering and finishing the day with a 0.43% gain, Ark still added to its holdings by acquiring 13,494 shares worth $5.98 million.

Ark acquired Meta Platforms, Inc. (NASDAQ: META) shares in two separate buying periods following the public disclosure of the company’s latest financial reports.

As a crypto investor, I closely monitor the market news and adjust my portfolio accordingly. Meta’s cautious sales outlook for Q2 and focus on AI investment led to a 10.56% decrease in its stock price on Thursday. In response, Ark Investments bought a total of 27,961 Meta shares worth $12.34 million across three of their ETFs: ARKK, ARKW, and ARKF.

Palantir (PLTR) Gets Ark Invest’s Attention Ahead of Earnings

The investment firm, Ark Invest, executed several transactions on Friday involving significant stocks from its holdings. Notably, they acquired a substantial amount of Palantir Technologies, Inc. shares prior to the company’s anticipated first-quarter earnings release on May 5. According to Benzinga Pro data, analysts forecast Palantir to report earnings per share of 8 cents based on projected revenues of $625.33 million. This represents a notable increase compared to the previous quarter’s revenue of $525.19 million and earnings per share of 5 cents.

Ark Invest Previous EV Stock Buy

Approximately a week ago, ARK Invest made a significant purchase of Tesla shares, reflecting their investment strategy in line with the electric vehicle market’s dominant player. This acquisition underscores their confidence in Tesla’s ability to drive substantial growth in the future.

As an analyst, I’ve observed that in the past, Ark Investment Management bought Tesla (TSLA) shares when they experienced a decline of over 10% due to disputes with OpenAI. The funds procured from this purchase were subsequently utilized to boost visibility for our business. Specifically, ARKQ acquired 5,684 shares, ARKK obtained 61,073 shares, and ARKW secured 13,199 shares of Tesla stocks.

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2024-04-28 01:35