Cathie Wood's Ark Invest Hoards Palantir Stock Ahead Of Q1 Earnings, Adds More Of This Buffett-Backed EV Bet, Buys Meta, Roku Earnings Dip

Shanthi Rexaline

April 27, 2024

On Friday, Cathie Wood-led Ark Invest did a flurry of trades involving some of its key portfolio stocks, notably adding a big chunk of shares of AI-levered Palantir Technologies, Inc. (NYSE:PLTR).

AI Pickings: Ark, through its ARK Autonomous Technology & Robotics ETF (CBOE: ARKQ), bought 100,344 shares of Palantir, valued at $2.26 billion. This was in addition to the 45,229 shares, worth $981,923, it acquired on Thursday.

Palantir is scheduled to report its first-quarter results on May 5. Analysts, on average, expect the company to report earnings per share of 8 cents per share on revenue of $625.33 million, according to Benzinga Pro data. This represents an increase from fourth-quarter numbers of 5 cents per share and $525.19 million, respectively.

Ark also accumulated Meta Platforms, Inc. (NASDAQ:META) shares in two sessions following the social media giant’s quarterly earnings announcement.

The Meta stock ended 10.56% lower on Thursday, reacting to its soft second-quarter revenue guidance and commentary regarding intensive investment in AI. Ark, via its Ark Innovation ETF (NYSE:ARKK), ARK Next Generation Internet ETF (NYSE:ARKW) and ARK Fintech Innovation ETF (NYSE:ARKF) added 27,961 Meta shares on Thursday worth $12.34 million.

Ark went on a Meta buying spree yet again on Friday despite the stock recovering and closing 0.43% higher. The firm bought 13,494 Meta shares valued at $5.98 million.

See Also: Best ETFs To Buy Right Now

Bargain Hunting In Roku: Streaming equipment maker Roku, Inc.’s (NASDAQ:ROKU) shares fell 10.28% on Friday despite its quarterly beat. Investors apparently did not take kindly to the management hinting at difficult comparisons in the coming quarters.

Undeterred by the sell-off, Ark added a whopping 715,644 Roku shares, valued at $40.33 million, on Friday.

An EV Buy: Ark, which supported Tesla amid its stock slump prior to its earnings, shifted allegiance to another electric-vehicle maker this week.

Through ARKQ, Ark bought 2,800 shares of BYD Co. Ltd. (OTC:BYDDY) (OTC:BYDDF) worth $146,132 on Thursday. It followed up with the purchase of another 28,434 shares, valued at $1.54 million, on Friday.

Billionaire investor Warren Buffett’s Berkshire has a stake in BYD, which wrested the global battery EV crown from Tesla in the fourth quarter of 2023 but has since ceded it back to the U.S. EV giant. BYD now accounts for about 1% of ARKQ’s portfolio by weighting.

Ark’s flagship exchange-traded fund, the ARKK, closed Friday’s session up 1.05% at $44.07, according to Benzinga Pro data.

Read Next: Elon Musk Echoes Cathie Wood, Wants Tesla To Be Seen As An AI Or Robotics Company: ‘If You Value Tesla As Just An Auto Companyâ€¦Wrong Framework’

Photo: Shutterstock

Recommended

Mysterious Gold Leverage Just Announced - Ad

Jeff Bezos' and Elon Musk's Feud Just Went Nuclear - Ad

One Crypto Can Change Your Financial Life - Ad

Popular

K-pop fans around globe rally for climate and environment goals

JAKARTA, Indonesia (AP) —

Top 3 Materials Stocks You May Want To Dump In May

Three stocks in the materials sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

Prescient CEO Makes Shocking New Prediction

Prescient CEO Makes Shocking New Prediction - Ad

Known for his eerily accurate market calls over the years, this CEO has just revealed his newest prediction about "America's New Money." Get the details before it's taken offline.

As Melinda French Gates leaves the Gates Foundation, many hope she'll double down on gender equity

NEW YORK (AP) — Melinda French Gates is already one of the biggest philanthropic supporters of gender equity in the United States and is now poised to put another $12.5 billion toward intractable problems like closing the gender pay gap and increasing women's political participation, her grantees hope.

New US tariffs on Chinese electric vehicles, batteries and solar cells could raise consumer prices

WASHINGTON (AP) — New tariffs on Chinese electric vehicles and batteries, solar cells, medical equipment and other goods are . They could raise prices on certain specific items, experts say, though a broad inflationary impact is unlikely in the short term.

"America's No. 1 Retirement Stock" (Name Inside)

"America's No. 1 Retirement Stock" (Name Inside) - Ad

According to the former Goldman Sachs VP -- who wrote a best-selling book on retirement -- one single stock stands head-and-shoulders above all others. And it should be the cornerstone of your portfolio. Have you heard of it?

Biden Targets Chinese Imports With Huge Tariff Hikes Ahead of Election

The Biden administration unveils targeted tariffs on Chinese goods, including electric vehicles and semiconductors, to safeguard American jobs. Lael Brainard stresses the move's necessity to counter China's unfair trade practices and bolster domestic industries. With tariffs affecting $18 billion worth of imports, strategic sectors like aluminum, steel, and critical minerals are prioritized, aligning with key legislative goals.

Roaring Kitty is back and so are meme stocks, GameStop surges 40%

The man at the center of the pandemic meme stock craze returned to the social platform X for the first time in three years and sent prices of some of those stocks surging overnight.

Nvidia CEO Says It Will Spark "the Next Revolution" Beyond AI

Nvidia CEO Says It Will Spark "the Next Revolution" Beyond AI - Ad

Declares this radical biotechnology "is going to be flat out one of the biggest [tech revolutions] ever." And this $10 stock is at the center of all.

Argentina reports its first single-digit inflation in 6 months as markets swoon and costs hit home

BUENOS AIRES, Argentina (AP) — Argentina’s monthly inflation rate eased sharply to a single-digit rate in April for the first time in half a year, data released Tuesday showed, a closely watched indicator that bolsters President Javier Milei’s severe austerity program aimed at fixing the country’s troubled economy.

Red Lobster closes dozens of locations across the US just months after 'endless shrimp' losses

NEW YORK (AP) — Dozens of Red Lobster locations across the U.S. are on the chopping block.

Discover "U.S.'s New Money" Before Biden Wins

Discover "U.S.'s New Money" Before Biden Wins - Ad

A new form of money has emerged in America, and it's making some folks wildly rich... (Musk and Bezos both use it). Find out how you can too in this free video.

Seattle Times publisher Frank Blethen to step down after 4 decades in charge of family-owned paper

SEATTLE (AP) — Seattle Times publisher and CEO Frank Blethen has announced he will step down at the end of next year after four decades leading the newspaper his family has owned since 1896.

OpenAI Tries To Steal Google's Thunder A Day Before Search Giant's Event, Unveils GPT-4o, A ChatGPT Version That Can Reason Across Audio, Vision And Text: 'A Huge Leap In Interaction'

OpenAI has launched GPT-4o, an upgraded version of GPT-4, enhancing its efficiency and capabilities to handle text, audio, and images seamlessly, while extending premium features to a wider user base.

Forget AI, Imperium Is Expected to Grow 320,000% In 3 Years

Forget AI, Imperium Is Expected to Grow 320,000% In 3 Years - Ad

Three of the world's biggest AI companies -- Google, Nvidia and Intel -- have even partnered with my No. 1 Imperium company to get on this massive mega trend. The average investor hasn't caught on yet, but you can still invest in my No. 1 Imperium company for just $10 a share.

Fed's Powell downplays potential for a rate hike despite higher price pressures

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said Tuesday that the central bank is its key interest rate in response to signs of and underscored his view that price increases would soon start to cool again.

Trump's Erstwhile Lawyer Testifies To Former President's Involvement In Hush Money Payment: 'Don't Worry Michael, You Will Get Paid Back'

Michael Cohen testified to making payments on behalf of Donald Trump to keep stories of affairs from becoming public.

Defi Coin Triggers All "Buy" Signals and Could Break Out Soon

Defi Coin Triggers All "Buy" Signals and Could Break Out Soon - Ad

Some are calling this the most promising DeFi project since Ethereum itself. Here's the #1 DeFi Coin Set to Soar. While Bitcoin grabs headlines, this lesser known DeFi coin is quietly gearing up for a monster rally. Experts say now is the time to buy before it reaches escape velocity.

Ten federal agencies receive 'A+' in annual scorecard measuring small business contracting goals

NEW YORK (AP) — Federal grants can be a huge boost for small businesses. And some federal agencies do better at giving grants to small businesses than others.

Trump Vs. Biden: New Swing State Poll Reveals Winner, One Key 2024 Election Issue Could Influence Result (Updated)

A new 2024 election poll of swing state voters shows Donald Trump with a commanding lead. One key factor could be determining the race in these markets.

The No. 1 Crypto for 2024

The No. 1 Crypto for 2024 - Ad

It's expected to soar 20X bigger than Bitcoin.

Joe Manchin Expresses Disappointment In Congress' Inaction Over Nation's Rising $35 Trillion Debt: 'It's A Shame ... No One Cares About It'

The initiative for a bipartisan commission to address the United States' escalating $34.6 trillion debt appears to be stalling in Congress. What Happened

Australian judge says it is unreasonable to require X to hide video of church stabbing for all users

MELBOURNE, Australia (AP) — An Australian judge said it would be unreasonable for the country's internet safety watchdog to require social platform X to hide video of a bishop being in a Sydney church from all of its users globally, as he explained his decision to lift a that had required X to hide the video of the attack.

America Just Hit a Grim Milestone

America Just Hit a Grim Milestone - Ad

Nearly half of U.S. households currently hold no retirement savings. Retirement expert Dr. David Eifrig says what happens next will separate a small number of winners from a very large number of losers. Learn how to protect yourself and your money with his four simple steps that he shares right here.

Top 3 Real Estate Stocks That Are Set To Fly

The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down.

Here's How Much A Super Bowl LIX Commercial Will Cost, How Fox Corporation Stock Could Benefit

Super Bowl LIX is months away, but it's already time to talk about the commercials with a high price tag already reported.

Buy This A.I. Stock Before Elon's "A.I. Day" on May 16

Buy This A.I. Stock Before Elon's "A.I. Day" on May 16 - Ad

Luke Lango is now recommending this little-known A.I. stock because it could supply Elon Musk with a critical piece of infrastructure for his new A.I. venture, something Luke is calling "Elon's A.I. 2.0". Once Elon reveals it on May 16, you may have missed the biggest gains.

Equinor Swaps Assets for Streamlined Norway Operations

Equinor and Petoro signed a value-neutral asset swap agreement in Haltenbanken region, increasing Equinor's ownership in Heidrun and Noatun and reducing it in Tyrihans and Castberg.

Trump Meets With DeSantis, Noem Stirs Up Controversy: How Will Republican Vice President Betting Odds Be Impacted?

The relationship between Donald Trump and Ron DeSantis was heated at times during the Republican primary season, before the Florida governor dropped out of the 2024 presidential election and threw his support behind the

Mystery of the Rich and Connected Revealed

Mystery of the Rich and Connected Revealed - Ad

Former Goldman VP reveals a mysterious "Gold Bank" with huge upside potential... Last time we shared this, some folks could have seen a 995% gain. Don't be surprised if you've never heard of this -- most haven't. But he's sharing all in this new video.

Amid Latest Indictments, Former Trump Aide Slams Ex-President Over Treatment Of 'Bodies Around Him': 'He Takes Out Everybody Who Is Loyal To Him'

Cassidy Hutchinson, a former aide to Donald Trump, publicly expressed her disapproval of the ex-president following the recent indictments of his associates in the Arizona fake electors scheme.

Jim Cramer Advises Investors To Stick With Good Companies Despite Short-Term Losses: 'You Just Need To Figure Out Which Companies Deserve Your Confidence'

Cramer, a prominent figure in the finance world, suggested that investors should not emulate the trading habits of large hedge funds. Instead, he recommended a long-term investment strategy, emphasizing the need to anticipate and endure market declines.

Investors See "All-Hands-On-Deck" Signal for AI

Investors See "All-Hands-On-Deck" Signal for AI - Ad

With an AI gold rush sweeping the globe, the world's richest men are piling in. Tech magnates like Bill Gates, Jeff Bezos, and Mark Zuckerberg have been spending billions to keep up with the AI boom. The tech companies themselves are one a buying spree of young companies with the next generation of AI technology.

Elon Musk Causes Stir With Response To Professor's Ominous Prediction Of Civil War 'Coming To The West'

Elon Musk raised eyebrows with his recent tweet affirming a prediction of a civil war in the West.

Campaign to build new California city submits signatures to get on November ballot

SAN FRANCISCO (AP) — A wealthy Silicon Valley-backed campaign to build a green city for up to 400,000 people in the San Francisco Bay Area has submitted what it says are enough signatures to qualify the initiative for the November election.

Biggest Hedge Fund Manager Has Huge Warning for U.S. Dollar."

Biggest Hedge Fund Manager Has Huge Warning for U.S. Dollar." - Ad

Ray Dalio, the founder of Bridgewater has gone public with a huge waning about the U.S. dollar. He says: "We are printing too much... money as we know it is in jeopardy." Multi-millionaire analyst Porter Stansberry agrees and says a very lucrative new form of money is emerging in America. Should you get it? Stansberry explains full story here...

California is testing new generative AI tools. Here's what to know

SACRAMENTO, Calif. (AP) — Generative artificial intelligence tools will soon be used by California's government.

Fans are following Taylor Swift to Europe after finding Eras Tour tickets less costly there

LONDON (AP) — Thousands of ride-or-die fans who on her U.S. concert tour last year or didn't want to buy exorbitantly priced tickets to see her again found an out-of-the-way solution: Fly to Europe.

READ THIS If You Missed Out on the AI Boom

READ THIS If You Missed Out on the AI Boom - Ad

Radical new biotechnology predicted to grow 320,000% in 3 years. Nvidia's CEO calls it "the next amazing revolution." And one small company poised to dominate this revolution trades for just $10.

Anti-abortion activist who led a clinic blockade is sentenced to nearly 5 years in prison

WASHINGTON (AP) — An anti-abortion activist who led others on an invasion and blockade of a reproductive health clinic in the nation's capital was sentenced on Tuesday to nearly five years in prison.

Trending Now