Cathie Wood Is Backing the Truck Up on Palantir Stock. Is She Finally Right?

Cathie Wood’s ARK funds continued buying Palantir stock through its 2026 drawdown, extending a months-long pattern of averaging down on weakness. The article says ARK purchased about 81,254 shares for roughly $9.7 million on June 23 and another 41,601 shares for about $4.5 million on June 26 across multiple tech holdings. Palantir (NASDAQ: PLTR) reportedly fell to a 12-month low near $107.27 before bouncing about 5% to around $115 at the time of writing, with shares down roughly 31% year to date through June 26. Support for the bull case includes Q1 2026 revenue up 84.7% year over year to $1.633 billion, U.S. commercial revenue up 133% to $595 million, and raised 2026 guidance to $7.650–$7.662 billion plus adjusted free cash flow of $4.2–$4.4 billion. The bear case highlights expensive valuation, including a forward P/E of 77x and price-to-sales of 53x.