PLTR Stock Price Increased 4.83%: Why It Happened

By Amit Chowdhry ● March 5, 2021
  • The stock price of Palantir Technologies Inc (NYSE: PLTR) increased by 4.83% yesterday. This is why it happened.

The stock price of Palantir Technologies Inc (NYSE: PLTR) increased by 4.83% yesterday despite a broader market selloff. Investors were responding to ARK Invest buying more Palantir shares earlier in the week.

Specifically ARK Invest bought over 2.6 million more shares of Palantir Technologies. Of the 2.6 million, 1,988,500 shares were added to the ARK Innovation ETF (ARKK) and 670,300 shares were added to the ARK Next Generation Internet ETF (ARKW).

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.