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Palantir shares jumped by 13% Thursday and are on track to close the day at a new 52-week high.
This move follows Wednesday's announcement by Ark Investment Management, an innovation investor Cathie wood's Ark Investment Management, that it had made a significant purchase of Palantir.
The company said that it purchased more than 900,000.00 shares of Palantir, for its flagship ARKK Exchange-Traded Fund, a purchase worth approximately $9 million at Wednesday's closing.
Ark reported that it had also purchased about 350,000 Palantir Shares for two other ETFs.
Palantir Technologies Inc.
PLTR (U.S. : NYSE).