The renowned growth investor Cathie Wood is anticipating a recovery this year. The primary fund at Ark Invest — where she holds the position of co-founder and CEO — has experienced a decline of 7% this year, in contrast to the slightly higher market trends in 2024. Rather than being passive, she is actively engaging in strategic purchases and sales within her investment portfolios.
Wood acquired shares of Palantir Technologies (NYSE: PLTR), Teladoc (NYSE: TDOC), and Roku (NASDAQ: ROKU) on Tuesday, strengthening her prominent positions in these companies. While Palantir has slightly declined since reaching a two-year peak last month, Teladoc and Roku are currently trading well below their previous highs. Let’s delve deeper into these three recent acquisitions.
1. Palantir
Palantir emerged as one of the top market performers last year and has maintained its momentum into early 2024. As a software developer serving the intelligence sector, its stock nearly quadrupled over a 14-month period ending in February. Although the stock reached a new two-year high in early March, it has been on a downward trend for the past two months.
Despite securing significant contracts, Palantir is no longer solely focused on solutions for governmental and public entities. Its expertise that initially appealed to government agencies now resonates well with private enterprises. Although the U.S. commercial revenue amounted to just $131 million, a modest portion of the $608 million it generated in its latest quarter, this segment witnessed a remarkable 70% increase in revenue.
Image source: Getty Images.
A steady flow of press releases announcing new business agreements is raising Palantir’s visibility. Moreover, it has gained popularity over the past year as a key player in the artificial intelligence (AI) field.
Despite growing concerns from some of its early supporters, who feel the stock is overvalued due to the “AI hype cycle,” Brian White at Monness, Crespi, Hardt & Co. downgraded Palantir to a sell rating two weeks ago. In contrast, Cathie Wood remains optimistic and expanded her stake in the company on Tuesday.
The story continues
2. Teladoc
Teladoc, an early market success during the pandemic crisis, is a pioneer in telehealth services, offering a timely platform for medical…
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