Despite facing both a surprise earnings loss of $0.08 a share compared to positive EPS sentiment of $0.02 on Tuesday, and a lockup expiration on Thursday which freed up 80% of the company's shares, I believe that $PLTR is due for a strong rally as a result of Cathie Wood's involvement through ARKK ETF.
Cathie Wood is a Rockstar stock-picker in today's investment scene with eyes all on her across the globe and a cult-like following among both traders and investors. Her involvement into $PLTR through a purchase of 5,274,000 shares into ARKK ETF, brought Palantir Technologies Inc-A ranking in ARKK ETF up to the 46th largest holding as of 02/19/2021.
This creates an exponentially huge positive sentiment around $PLTR that overshadows the negativity brought about by the earnings loss and lockup expiration. I have no doubt that we will see volume in $PLTR picking up as more money pours into the stock due to this situation. Insiders that have thoughts about selling their holdings will certainly think thrice now as well. I believe that the price range of $24.50 to $26.31 that we saw on the day that Cathie Wood made her $PLTR purchase will now become a demand zone for the stock.
I expect $PLTR to re-enter into the bullish channel, subsequently retesting the channel's resistance line and the ATH.
My target is $45.00. Please set SL based on your own risk tolerance.
This is not investment advice so please do your own due diligence!
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Cathie Wood is a Rockstar stock-picker in today's investment scene with eyes all on her across the globe and a cult-like following among both traders and investors. Her involvement into $PLTR through a purchase of 5,274,000 shares into ARKK ETF, brought Palantir Technologies Inc-A ranking in ARKK ETF up to the 46th largest holding as of 02/19/2021.
This creates an exponentially huge positive sentiment around $PLTR that overshadows the negativity brought about by the earnings loss and lockup expiration. I have no doubt that we will see volume in $PLTR picking up as more money pours into the stock due to this situation. Insiders that have thoughts about selling their holdings will certainly think thrice now as well. I believe that the price range of $24.50 to $26.31 that we saw on the day that Cathie Wood made her $PLTR purchase will now become a demand zone for the stock.
I expect $PLTR to re-enter into the bullish channel, subsequently retesting the channel's resistance line and the ATH.
My target is $45.00. Please set SL based on your own risk tolerance.
This is not investment advice so please do your own due diligence!
Support this idea with likes and share your thoughts below.