Ark Invest's family of exchange-traded funds outperformed the market in 2020 because to Cathie Wood's aggressive trading strategy
She had two years of underwhelming results until she finally broke even in 2023. She's having a rough start to the year, but she's striking deals and posting them online every day to get herself back on track.
These days, what does she purchase? On Tuesday, Wood increased her holdings in Palantir (NYSE: PLTR), Intellia Therapeutics (NASDAQ: NTLA), and Tesla (NASDAQ: TSLA). The equities she recently purchased warrant a more thorough examination.
Many of Palantir Wood's favorite stocks are ones that she like to buy on declines. But on Tuesday, she invested in one of the day's top performers.
Following Palantir's announcement of astronomical financial results, the company's stock price surged 31%. Wood purchased at a discount.
The 20% growth in revenue to $608.4 million was somewhat more than the 18% increase that experts had predicted. For the sixth quarter in a row, the intelligence community software builder has recorded a profit
The adjusted net income per share for Palantir was $0.08, which was somewhat more than the $0.07 per share that the experts on Wall Street were anticipating.
It may not seem like much of a beat given the huge price increase, but the report did help establish Palantir as an AI play. Artificial intelligence stock prices rose sharply last year. With a stellar start to 2024, Palantir's stock price more than quadrupled in 2023. From January of last year to now, the stock price has increased by almost 100%.
STAY TURNED FOR DEVELOPMENT