FEATURE Palantir Technologies stock fell for a third straight day after Cathie Wood’s ARK Investment Management unloaded more shares of the software company. Palantir had an undeniably good 2024, skyrocketing 340% as enthusiasm for the company’s artificial intelligence platform and highly publicized government contracts drove the stock price higher.

ARKF ETF has sold $15 million worth of shares of Palantir stock, may have caused a bit of a sell-off. See why I maintain a long-term buy rating on PLTR shares.

After a couple of huge insider sales of the company, Palantir stock ( PLTR, Financial) declined 8% on Tuesday. It fell to as low as $70.31 in the session and, by the market close, took that to $71.85.

Palantir Technologies stock had a great 2024, but the new year is starting off rocky for the software company. Palantir stock fell 7.8% to $69.99 and was the worst performer in the S&P 500 on Tuesday as the index dropped 1.

Palantir (NASDAQ:PLTR) shares slipped 5% by noon trading on Tuesday after Cathie Wood's ARK Invest ETFs sold off $15M in shares. According to a post on X by Ark Invest Daily, the investment management firm unloaded 196,

The stock of Palantir Technologies (PLTR, Financial) fell 3% on early trading on Tuesday after Cathie Wood-Ark Invest sold $15 million worth of Palantir shares, or 196,728 shares in total, across various ETFs.