Cathie Wood-Led Ark Invest Scoops Up $5.16M Worth Of Palantir Shares Amid Raging AI Fervor - Adaptive Bio

　　On Monday, Cathie Wood-led Ark Investmade a notable investment in Palantir Technologies IncPLTR, a move that comes as the AI sector gains momentum.

　　The PLTR Trade

　　Ark Invest, through its ARK Autonomous Technology & Robotics ETFARKQ, purchased 199,372 shares of Palantir, a significant addition to its portfolio. The value of this trade, based on the closing price of $25.88 on the same day, stands at approximately $5.16 million.

　　Palantir has recently been praised as an ‘AI Halo’ play by momentum investors. The company was added to BofA Securities top 10 best U.S. ideas list for the third quarter, highlighting its growing popularity in the AI sector. Joe Terranovaof Virtus Investment Partners explained that Palantir is a key player in the AI space, participating actively in the AI halo.

　　Palantir co-founder Peter Thielrecently shared his insights on the AI landscape at the Aspen Ideas Festival, drawing parallels between the dot-com bubble and the current state of AI.

　　Other Key Trades:

• Ark Invests ARKG bought shares of Adaptive Biotechnologies CorpADPT.
• ARKK purchased shares of Recursion Pharmaceuticals IncRXRX. ARKQ also added shares of Blade Air Mobility IncBLDE to its portfolio.
• ARKF sold shares of Teladoc Health IncTDOC.

　　This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal

　　© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.