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Why Palantir Stock Is Soaring Today

Why Palantir Stock Is Soaring Today

Palantir (NYSE: PLTR) stock is making big gains in Thursday's trading session following news that it had received new support from a prominent institutional investor. Meanwhile, the S&P 500 index was up roughly 0.6%, and the Nasdaq Composite index was up 1.2%. Ark Invest, which is led by founder and CEO Cathie Wood, published an update yesterday revealing that it had purchased more Palantir stock.