Palantir Technologies (PLTR.US) stock surged more than 13% today after investor Cathie Wood from ARK Investment acquired 5.3 million shares on Thursday as the stock fell after a lockup expiration. Wood, which investment decisions turned out to be very fruitful last year, said that she upped her bets on the data company. The shares were bought through the ARK Innovation ETF and the holding accounts for 0.5% of its total weight. According to StreetInsider, earlier this week, Wood's other fund - ARK Next Generation Internet ETF - bought 1.6 million shares of Palantir, and now owns 4 million shares.
Palantir announced this week revenue would increase 45% in the first quarter of 2021. In the previous quarter, revenue surged by 40%, to $322 million, well above analysts’ expectations of $300.7 million.
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Palantir (PLTR.US) stock launched today's session higher breaking above the upper limit of the ascending channel, however buyers failed to break above the major resistance at $30.25 and price pulled back. The nearest support lies at the $24.82. Source: xStation5
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