Palantir (NYSE:PLTR) stock is on the move in early morning trading on Thursday and investors will want to keep an eye on it today.
Palantir is a data analysis company that works with customers to provide them the information they need about their businesses. The company operates around the world and works to solve problems with the information it provides.
Here’s everything potential investors in PLTR stock need to know about the company today.
- Starting off, the stock got a slight boost this morning following a move from Cathie Wood’s Ark Invest.
- The big news here is that Ark Invest’s ARK Innovation ETF (NYSEARCA:ARKK) picked up an additional 1.2 million shares of PLTR stock on Wednesday.
- However, that increase didn’t last long as shares quickly dipped back down below yesterday’s close.
- Investors should also know that this isn’t the first time that Ark Invest has taken an interest in PLTR.
- The ETF has been acquiring shares of the company quite a bit since its earnings report in February.
- That includes grabbing 5.25 million shares on Feb. 18.
- It’s worth noting that roughly 23 million shares of PLTR stock have traded as of this writing.
- For comparison, the stock’s daily average trading volume is about 85 million shares.
- Palantir was also in the news recently thanks to some surprising comments made by CEO Alex Karp.
- That includes Karp saying that he doesn’t want short-sellers buying shares of PLTR stock.
- The CEO also went on to say that he supports retail traders that have been causing problems for short sellers of late.
PLTR stock has been on a wild ride today. The stock started the day off down before rising higher, falling again, and then climbing its way back up. As of Thursday morning, the stock is up close to 1%. However, it’s down 5.6% since the start of the year.
Of course, PLTR isn’t the only stock on the move today.
Plenty of other companies are seeing shares of their stock experience hefty changes in trading this morning. That includes Cellect Biotechnology (NASDAQ:APOP), Arrival (NASDAQ:ARVL), Jaws Spitfire Acquisition (NYSE:SPFR).
More Stocks on the Move Today
- APOP Stock: Why Cellect Biotechnology Is Skyrocketing Today
- ARVL Stock: 12 Things to Know As EV Play Arrival Starts Trading Today
- SPFR Stock: 2 Reasons the Velo3D SPAC News Is Boosting Jaws Spitfire Today
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.