Cathie Wood’s Ark Invest went on yet another buying spree on Friday with stocks taking a major limelight. The firm’s top picks for the day resided in Meta (META) and Palantir (PLTR). Both these stock buys align with Ark’s overall buying strategy.
Ark Invest Buys Meta (META) Stock
On Friday, Ark continued its Meta buying binge even though the stock bounced back and ended the day 0.43% higher. The company purchased 13,494 shares of Meta for $5.98 million.
Ark also purchased shares of Meta Platforms, Inc. (NASDAQ: META) in two sessions after the social networking behemoth revealed its quarterly financial results.
In response to its cautious sales outlook for the second quarter and remarks about significant investment in artificial intelligence, the Meta stock finished 10.56% lower on Thursday. On Thursday, Ark added 27,961 Meta shares valued at $12.34 million through its Ark Innovation ETF (NYSE: ARKK), ARK Next Generation Internet ETF (NYSE: ARKW), and ARK Fintech Innovation ETF (NYSE: ARKF)
Read Also: ZKSNACKS Bans US Customers Over “Regulation Concerns”
Palantir (PLTR) Gets Ark Invest’s Attention Ahead of Earnings
The Ark Invest made a number of trades on Friday involving some of the major stocks in its portfolio, most notably adding a sizable number of shares of AI-levered Palantir Technologies, Inc. On May 5, Palantir is expected to release its first-quarter financial results. Based on $625.33 million in revenue, analysts anticipate the business to report profits per share of 8 cents on average, according to Benzinga Pro data. Compared to the fourth quarter’s results of $525.19 million and 5 cents per share, respectively, this indicates a rise.
Ark Invest Previous EV Stock Buy
A few days back, Ark Invest bought Tesla shares amid an EV stock buy. ARK’s strategy is aligned with this substantial acquisition of the market leader in electric vehicles, demonstrating a strong belief in the company’s potential for future growth.
In the past, Ark purchased Elon Musk’s Tesla (TSLA) shares after they had dropped more than 10% as a result of arguments with OpenAI. The money raised was then used to raise awareness of the business. At that time, ARKQ purchased 5.684 shares of TSLA, ARKK purchased 61,073 shares, and ARKW purchased 13,199 shares.
Read Also: Ace Exchange Founders Face 20-Year Sentence in Fraud Case
The post Cathie Wood’s Ark Invest Picks Meta (META), Palantir (PLTR) Stock in Major Buy appeared first on CoinGape.
Earn more CFN tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://cryptoforum.news0
CFN Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed