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Cathie Wood’s ARK Invest Bought Palantir Stock After Strong Earnings
Fund company ARK Invest, led by the well known portfolio manager and stock picker Cathie Wood, loaded up on Palantir Technologies shares after the analytics software company posted strong quarterly financial results. Early Thursday, Palantir reported June quarter revenue of $376 million, up 49% from a year ago, beating both the company’s own target and the Wall Street consensus by large margins. The strong results were driven by accelerating growth in the company’s U.S. commercial business, including newly acquired clients such as Deere, BNY Mellon, and Southern California Edison.