Palantir Stock Set to Break Seven-Day Losing Streak as ARK Buys the Dip
Mondeum Capital (UK) Limited
Palantir shares are moving up in premarket trading on Friday after hitting a 52-week low on Thursday. Cathie Wood’s ARK Invest bought shares during the recent selloff. The stock rose 0.8% to $108.12 before the market opened, which could end its longest losing streak of 2026. Here’s a look at the recent losses and who is buying at these prices.
On Thursday, ARK Invest bought 30,528 Palantir shares across three of its funds: the ARK Innovation ETF, the ARK Next Generation Internet ETF, and the ARK Blockchain and Fintech Innovation ETF. Palantir now makes up 2.4%, 2.3%, and 3.7% of these funds, respectively. This move shows that at least one well-known tech investor sees the current price as a buying opportunity rather than a red flag.
This month has been tough for Palantir. The stock is down 31% in June and 20% since last Tuesday, making it likely to have its worst month since a 32% drop in February 2021. So far in 2026, Palantir has fallen 39% and is now 48% below its record closing high of $207.18 from November 3, 2025. Even if the stock closes higher on Friday, these numbers would not change much.
The technical outlook for Palantir is still weak. On Monday, the stock dropped below $127, a level it had held since February. Then on Thursday, it fell past $128, which had been a key support for the last year. Now, the stock is about 15% under $127 and is trading well below its 50-day moving average of around $137 and its 200-day moving average of about $159.
Despite the recent sell-off, most Wall Street analysts remain positive on Palantir. Of the 33 firms tracked by FactSet, 20 rate the stock Buy or Overweight, with an average price target of $189.87. That suggests about 77% upside from Thursday’s close. The difference between analyst targets and the current price is one of the largest in the software sector.
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