Key Highlights
- PLTR shares reached a 52-week bottom at $107.27 on Thursday, declining 5.5% and marking a 39% year-to-date loss in 2026
- The technology stock has shed 31% throughout the current month, potentially recording its steepest monthly decline since February 2021
- Cathie Wood’s ARK Invest acquired 30,528 shares of PLTR valued at approximately $3.3 million based on Thursday’s closing price
- ARK additionally purchased $18.9M worth of Cerebras while divesting roughly $16.7M in Alibaba holdings
- Analyst consensus reflects an Overweight stance with a mean price objective of $189.87, suggesting 77% potential upside
Palantir (PLTR) stock showed a 0.8% gain to $108.12 during Friday’s premarket trading session, following Thursday’s settlement at $107.27 — representing a new 52-week trough and the seventh consecutive decline.
Palantir Technologies Inc., PLTR
The 5.5% Thursday decline compounded what has evolved into a punishing period for PLTR shareholders. The equity has shed 20% across the previous fortnight and 31% during the current month.
Should the stock record another decline on Friday, it would establish eight straight losing sessions — a streak that would position it near its most severe monthly percentage loss since the 32% February 2021 plunge, according to Dow Jones Market Data.
PLTR has tumbled 39% in 2026, representing a dramatic shift following three consecutive years of exceptional performance. By comparison, the S&P 500 has climbed 7.5% while the Nasdaq Composite has advanced 9% during the identical timeframe.
The shares currently sit 48% beneath their all-time closing peak of $207.18, established on November 3, 2025.
Critical Support Levels Have Collapsed
Earlier this week on Monday, PLTR penetrated below $127 — a support threshold maintained since February. The stock now trades 15% under that benchmark.
Thursday delivered another breakdown: shares fell beneath $128, a crucial weekly chart support that had remained intact throughout the preceding 12 months.
The equity also trades substantially below both primary moving averages. The 50-day moving average rests around $137, whereas the 200-day moving average hovers near $159.
ARK Invest Seizes the Opportunity
With shares at depressed levels, ARK Invest took action. On Thursday, Cathie Wood’s investment firm acquired 30,528 PLTR shares distributed across the ARK Innovation ETF (ARKK), the ARK Next Generation Internet ETF (ARKW), and the ARK Blockchain & Fintech Innovation ETF (ARKF), representing approximately $3.3 million in total.
Palantir represents 2.4%, 2.3%, and 3.7% weightings in these three respective funds.
ARK’s activity didn’t stop there. The firm also accumulated 111,989 shares of Cerebras Systems (CBRS) through ARKK and ARKW, valued at approximately $18.9 million based on CBRS’s closing price of $168.52.
Regarding dispositions, ARK liquidated 176,004 Alibaba (BABA) shares across ARKF, ARKK, and ARKW — a transaction worth approximately $16.7 million. Alibaba has encountered headwinds following allegations from Anthropic regarding AI model distillation methodologies.
ARK also acquired 9,014 shares of Coinbase (COIN) and purchased 891,473 shares of Recursion Pharmaceuticals (RXRX). The firm sold 130,666 shares of Roku (ROKU) and 37,555 shares of Twist Bioscience (TWST).
From a bearish perspective, Michael Burry has commented on PLTR, highlighting anemic trading volume and citing the stock’s chart pattern as indication of an extended downward trajectory.
Notwithstanding the selling pressure, Wall Street’s aggregate outlook on PLTR maintains a positive tilt. Among 33 firms monitored by FactSet, 17 assign Buy ratings, three provide Overweight recommendations, 11 hold neutral positions, and two rate it Sell. The consensus price target remains at $189.87 — representing a 77% premium relative to Thursday’s closing price.
Palantir’s Benzinga Edge Momentum score currently registers in the 5th percentile, accompanied by a Value score positioned in the 2nd percentile.
