Cathie Wood's Ark Adds Another $29M To Palantir Stake After Q2 Earnings Beat, Buys DraftKings On Dip

Cathie Wood-led Ark Invest on Friday snapped up 1.156 million shares — estimated to be worth about $28.78 million — in Palantir Technologies Inc PLTR.  

Palantir shares closed marginally higher at $24.90 on Friday, just a day after they soared more than 11% as the Peter Thiel-co-founded data analytics firm beat Wall Street expectations for the second quarter earnings and gave an upbeat guidance for the current quarter.

See Also: Palantir, Alibaba, Square, Twitter, DraftKings — Stocks Cathie Wood's Ark Bought Or Sold On Thursday

The New York-based investment firm owns Palantir via all of its six active exchange traded funds but deployed Ark Innovation ETF ARKK on Friday to buy shares in Palantir. 

The latest buy lifted the consolidated position via the six ETFs to 32 million Palantir shares, worth $798.48 million, as of Friday’s trades.

The popular investment firm best known for bets in Tesla Inc TSLA also snapped up 10,996 shares — estimated to be worth about $588,286 — in DraftKings Inc DKNG on the dip. 

DraftKings shares closed 2.03% to $53.50 on Friday. 

Ark Invest investment deployed Ark Fintech Innovation ETF ARKF to buy shares in DraftKings on Friday but also owns positions in the online sports betting company via ARKK and the Ark Next Generation Internet ETF ARKW.

The three ETFs held 13.89 million shares, estimated to be worth $758.82 million, in DraftKings, as of Friday’s trades. 

Some of the other key Ark sells on Friday included Seer Inc SEER, which it bought via the Ark Genomic Revolution ETF ARKG and buys included Markforged Holding Corp MKFG the Ark Autonomous Technology & Robotics ETF ARKQ.

See also: How to Buy Palantir Technologies (PLTR) Stock

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Posted In: Long IdeasNewsSector ETFsBroad U.S. Equity ETFsSmall CapTrading IdeasETFsARK Investment ManagementCathie WoodData AnalyticsPeter Thielsports betting
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