On Friday, Cathie Wood-led Ark Invest made significant trades involving some of its key portfolio stocks. One notable move was the addition of a large number of shares of AI-leveraged Palantir Technologies, Inc. The ARK Autonomous Technology & Robotics ETF bought over 100,000 shares of Palantir, valued at $2.26 billion. Palantir is set to report its first-quarter results soon, with analysts expecting positive growth.
Ark also acquired shares of Meta Platforms, Inc. following the social media company’s quarterly earnings report. Despite a dip in Meta’s stock price, Ark continued to buy shares. Additionally, Ark purchased a substantial amount of Roku, Inc. shares after a drop in price despite a positive earnings report.
In another move, Ark bought shares of electric-vehicle maker BYD Co. Ltd. Billionaire investor Warren Buffett’s Berkshire Hathaway also has a stake in BYD. These purchases reflect Ark’s strategy of investing in innovative and growing sectors.
Overall, Ark’s flagship exchange-traded fund closed the day with a 1.05% increase. The firm’s continued investment in various companies shows its commitment to seeking out opportunities in evolving industries.