20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Two big names in the investing world have added positions in Palantir Technologies Inc (NYSE:PLTR), which went public via a direct listing in September.
What Happened: On Friday, Cathie Wood added 1,025,700 shares of Palantir to the Ark Next Generation Internet ETF (NYSE:ARKW). Palantir represents around 0.50% of the fund's assets, which is the second lowest holding.
The Soros Fund Management firm added 18.5 million shares of Palantir in the third quarter, according to a 13F filing put out on Friday. The fund is led by George Soros.
Related Link: Will Palantir Or Alteryx Stock Grow More By 2025?
Why It’s Important: The Ark Next Generation ETF is up over 105% in 2020 and is one of the best performing ETFs. Wood has a tendency to make a small purchase first and then start accumulating shares in chunks over the next few days.
Based on the Soros Fund filing, the purchase price was around $175 million, which means Soros could have bought shares at under $10. That valuation could be up by more than 50% thanks to Palantir's recent run-up to the $15 level.
Palantir reported third-quarter revenue of $298.4 million, up 52% year-over-year. The company also announced several key contracts wins in the third quarter.
Palantir expects to post revenue of $1.07 billion in the next fiscal year.
PLTR Price Action: Shares of Palantir were trading flat around $15.80 on Monday.
Photo courtesy: Cory Doctorow via Flickr
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!