Posted 1/30/2024, 12:45:00 PM
Palantir Stock Drops on Growth Concerns, But Ark Invest and Long-Term Potential Remain Bullish
- Palantir stock dropped after analyst downgrade due to concerns over AI potential and competition
- Cathie Wood bought the dip, adding 1 million more Palantir shares to Ark Invest portfolios
- Palantir's business is thriving, with commercial revenue growing 23% year-over-year
- New AI Platform showing high demand; helping diversify beyond government contracts
- Long-term growth prospects remain strong despite near-term headwinds on revenue growth