Palantir Technologies (PLTR) – Get the report the shares jumped on Friday after investor Cathie Wood revealed that its publicly traded funds bought more than 6 million shares of the company.
Ark Innovation (ARKK) – Get the report acquired 5.2 million shares while Ark Next Generation Internet (ARKW) – Get the report bought 1.56 million more shares. The funds bought a total of 6.8 million shares valued at about $ 172 million, buying the decline after the shares of the data analytics firm declined.
The last control of the company’s shares jumped 13% to $ 28.56, reaching a six-session losing streak that saw shares fall 30%.
Wood appeared this week on CNBC, saying he was pleased with Palantir’s recent concentration, Alex Karp, on spending for growth recently, which he defined as a “refreshing attitude,” according to Business Insider.
Palantir has become one of the favorite stocks of the famous crowd of Reddit retail investors.
The company was on Thursday one of the most popular stocks on the Reddit WallStreetBets forum, just behind GameStop (GME) – Get the report according to the Wall Street Journal.
Palantir fell Thursday after shares that had been blocked after the company’s initial public offering was released on Sept. 30.
The inmates were allowed to sell 20% of their shares on the direct IPO and the remaining 80% was opened on trading on Thursday.
Shares doubled (166%) from its IPO until Thursday.
Earlier in the week, the Denver company reported that its fourth-quarter loss fell to 8 cents per share, from 29 cents in the previous quarter. Analysts polled by FactSet expected a loss of 3 cents.
Revenue was $ 322 million, 40% more than the previous year and ahead of analysts ’consensus forecast of $ 300 million.