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Cathie Wood buys $8 million of tumbling tech stock


Published on 2025-03-05 21:01:38 - TheStreet
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  • Cathie Wood, head of Ark Investment Management, does not panic when the prices of her favorite tech stocks fall. She in fact buys the dip. And the prominent asset manager just bought into a tech stock that has lost nearly a quarter of its market value over the past month.

Cathie Wood, through her investment firm Ark Invest, has recently purchased approximately $8 million worth of shares in Palantir Technologies, a company known for its data analytics and AI software. This move comes as Palantir's stock experienced a significant drop, falling nearly 10% after the company forecasted a lower-than-expected revenue growth for the upcoming year. Despite this, Wood's decision to buy more shares reflects her confidence in Palantir's long-term potential, particularly in sectors like government and commercial markets where the company has been expanding its footprint. Palantir, which has been working to diversify its client base beyond government contracts, reported a 17% revenue increase in the third quarter, although it projected a slowdown in growth for 2024.

Read the Full TheStreet Article at:
[ https://www.msn.com/en-us/money/savingandinvesting/cathie-wood-buys-8-million-of-tumbling-tech-stock/ar-AA1AkDhO ]
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