Key Takeaways
- Palantir shares plummeted to a 52-week low of $107.27 on Thursday, declining 5.5% and bringing year-to-date losses to 39%
- The stock has shed 31% throughout the current month, potentially marking its steepest monthly decline since February 2021
- Cathie Wood’s ARK Invest accumulated 30,528 shares of PLTR valued at approximately $3.3 million following Thursday’s close
- ARK simultaneously acquired $18.9M in Cerebras stock and liquidated roughly $16.7M worth of Alibaba holdings
- Analyst consensus suggests an Overweight rating with a $189.87 target price, representing potential 77% upside
Shares of Palantir (PLTR) climbed 0.8% to $108.12 during Friday’s premarket trading session, following Thursday’s close at $107.27 — establishing a new 52-week low and extending the losing streak to seven consecutive sessions.
Palantir Technologies Inc., PLTR
The 5.5% decline on Thursday intensified an already punishing period for PLTR shareholders. Over the past two weeks, the stock has surrendered 20% of its value, with the current month seeing a devastating 31% decline.
Should the stock finish lower on Friday, it would represent the eighth consecutive negative session — a streak that would solidify its position as the worst monthly percentage loss since the 32% plunge recorded in February 2021, according to Dow Jones Market Data.
PLTR has retreated 39% year-to-date in 2026, representing a dramatic shift after three consecutive years of exceptional returns. In comparison, the S&P 500 has advanced 7.5% while the Nasdaq Composite has gained 9% during the identical timeframe.
The current price represents a 48% discount from the record closing high of $207.18, achieved on November 3, 2025.
Critical Technical Support Levels Shattered
Earlier this week, PLTR breached the $127 threshold — a crucial support level maintained since February. Current trading sits 15% beneath that benchmark.
Thursday delivered another significant technical breakdown: the stock fell through $128, representing a pivotal weekly chart support zone that had remained intact throughout the past twelve months.
The stock currently trades substantially below both primary moving averages. The 50-day moving average stands at approximately $137, while the 200-day moving average hovers near $159.
Cathie Wood’s ARK Invest Seizes Opportunity
As shares reached new lows, ARK Invest made its move. Throughout Thursday’s session, Cathie Wood’s investment firm accumulated 30,528 shares of PLTR distributed among the ARK Innovation ETF (ARKK), the ARK Next Generation Internet ETF (ARKW), and the ARK Blockchain & Fintech Innovation ETF (ARKF), representing a combined investment of approximately $3.3 million.
Palantir currently constitutes 2.4%, 2.3%, and 3.7% of these three respective funds.
ARK’s trading activity extended beyond Palantir. The firm also secured 111,989 shares of Cerebras Systems (CBRS) through ARKK and ARKW, totaling approximately $18.9 million based on CBRS’s closing price of $168.52.
Regarding divestments, ARK disposed of 176,004 Alibaba (BABA) shares distributed across ARKF, ARKK, and ARKW — representing a transaction valued at roughly $16.7 million. Alibaba has encountered headwinds following allegations from Anthropic concerning AI model distillation methodologies.
Additionally, ARK acquired 9,014 Coinbase (COIN) shares and purchased 891,473 shares of Recursion Pharmaceuticals (RXRX). The firm liquidated 130,666 Roku (ROKU) shares alongside 37,555 shares of Twist Bioscience (TWST).
From a bearish perspective, Michael Burry has commented on PLTR, highlighting anemic trading volume and identifying the stock’s pattern as indication of an extended downtrend.
Notwithstanding the selling pressure, Wall Street’s collective outlook on PLTR remains optimistic. Among 33 firms monitored by FactSet, 17 assign Buy ratings, three recommend Overweight, 11 suggest Hold, and two advocate Sell. The consensus price target remains at $189.87 — representing a 77% premium over Thursday’s closing price.
Palantir’s Benzinga Edge Momentum score currently registers in the 5th percentile, accompanied by a Value score in the 2nd percentile.
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