Cathie Wood Rushes To Load Up $36M In Palantir As Its Stock Crashes 9%

Cathie Wood’s money managing firm Ark Invest on Tuesday bought 1.48 million shares— estimated to be worth $35.98 million— in $Palantir(PLTR.US)$ on the dip and after months of booking profit in the stock.Shares of the Peter Thiel-backed company closed 9.35% lower at $24.25 a share on Tuesday.

The company, which supplies data analytics software to government agencies, beat third-quarter revenue and met earnings estimates lifted by low-margin government focused contracts, disappointing investors seeking more growth on the commercial side.Palantir’s revenue grew 36% year-over-year to $392 million, slowing from the previous two quarters. The company drew a bulk of that revenue from government contracts in the third quarter.

Here are some of the other key Ark Invest trades on Tuesday:

Bought 158,350 shares — estimated to be worth $5.8 million — in $Robinhood(HOOD.US)$ . Shares closed 3.37% lower at $36.7 a share on Tuesday.
Sold 238,235 shares in $Pfizer(PFE.US)$, estimated to be worth around $11.27 million.