Cathie Wood Just Bought the Dip on Palantir (PLTR) Stock. Should You?

TLDR

• Palantir stock hit a 52-week low of $107.27 on Thursday, down 5.5% on the day and off 39% in 2026
• The stock has fallen 31% this month, on track for its worst monthly drop since February 2021
• Cathie Wood’s ARK Invest bought 30,528 PLTR shares worth ~$3.3 million at Thursday’s close
• ARK also bought $18.9M in Cerebras and sold ~$16.7M of Alibaba
• Wall Street holds an average Overweight rating with a $189.87 price target, implying 77% upside

Palantir (PLTR) stock was trading up 0.8% to $108.12 in premarket Friday, a day after closing at $107.27 — a fresh 52-week low and the seventh straight down session.

Palantir Technologies Inc., PLTR

Thursday’s 5.5% drop extended what has become a brutal stretch for PLTR holders. The stock is now down 20% over the past two weeks and 31% this month alone.

If the stock closes lower again Friday, it would mark eight consecutive losing sessions — a run that would push it toward its worst monthly percentage decline since a 32% drop in February 2021, per Dow Jones Market Data.

PLTR is down 39% in 2026, a stark reversal after three years of outsized gains. For context, the S&P 500 is up 7.5% and the Nasdaq Composite is up 9% over the same period.

The stock is also sitting 48% below its record closing high of $207.18, set on November 3, 2025.

Technical Levels Are Broken

On Monday, PLTR broke below $127 — a support level it had held since February. It now trades 15% below that mark.

Thursday brought another breach: the stock dropped below $128, a key weekly chart support level that had held for the past 12 months.

The stock is also well below both major moving averages. The 50-day moving average sits around $137, while the 200-day moving average is near $159.

ARK Invest Buys the Dip

With the stock at lows, ARK Invest moved in. On Thursday, Cathie Wood’s firm bought 30,528 PLTR shares across the ARK Innovation ETF (ARKK), the ARK Next Generation Internet ETF (ARKW), and the ARK Blockchain & Fintech Innovation ETF (ARKF), totaling roughly $3.3 million.

Palantir makes up 2.4%, 2.3%, and 3.7% of those three funds, respectively.

ARK wasn’t done there. It also picked up 111,989 shares of Cerebras Systems (CBRS) across ARKK and ARKW, valued at approximately $18.9 million at CBRS’s closing price of $168.52.

On the sell side, ARK offloaded 176,004 Alibaba (BABA) shares across ARKF, ARKK, and ARKW — a sale worth roughly $16.7 million. Alibaba has faced pressure following accusations from Anthropic over AI model distillation practices.

ARK also bought 9,014 shares of Coinbase (COIN) and purchased 891,473 shares of Recursion Pharmaceuticals (RXRX). It sold 130,666 shares of Roku (ROKU) and 37,555 shares of Twist Bioscience (TWST).

On the bearish side, Michael Burry has weighed in on PLTR, flagging weak trading volume and pointing to the stock’s pattern as evidence of a prolonged downtrend.

Despite the pressure, Wall Street’s consensus on PLTR remains constructive. Of 33 firms tracked by FactSet, 17 rate it Buy, three Overweight, 11 Hold, and two Sell. The average price target stands at $189.87 — a 77% premium to Thursday’s close.

Palantir’s Benzinga Edge Momentum score sits in the 5th percentile, with a Value score in the 2nd percentile.

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