Palantir jumps 15% on big bet from Cathie Wood's Ark Invest. A review of what she bought and sold this week

Published Fri, Feb 19 202111:46 AM ESTUpdated Fri, Feb 19 20214:14 PM EST

Ark Invest's Cathie Wood, one of the hottest investors right now, upped her bets on Palantir this week and the stock is surging on her vote of confidence. Shares of Palantir are up 15% on Friday, after Ark Invest disclosed its flagship fund — Ark Innovation — bought more than 5.2 million shares of Palantir on Thursday. Palantir is about 0.5% of the total weight of Ark Innovation. Wood told CNBC on Wednesday she upped her bullish position in Palantir after hearing management's comments about aggressively investing in the future. "It's interesting to listen to the CEO. He was speaking our language," said Wood. "He was basically saying to investors that we are playing a massive space here and we are going to invest aggressively now in order to capitalize on the exponential changes that are taking place here. That's music to our ears." Palantir was also getting a good amount of attention on Reddit's WallStreetBets on Friday. The retail investing army often piggybacks on Wood's hottest trades. Wood also told CNBC on Wednesday that Ark's confidence in Tesla is growing and the firm continues to buy shares . Ark's flagship ETF bought nearly 90,000 shares of Tesla this week, about 0.25% of ARKK. The ARK Autonomous Technology & Robotics ETF and the ARK Next Generation Internet ETF also bought shares of Tesla. Ark discloses its top holdings every day in its trading wrap, which includes a breakdown of what the seven ETFs bought and sold each trading session. CNBC Pro broke down all the trades during the holiday-shortened week. After Wednesday's buying, Tesla is nearly 9% of Ark Innovation. Wood said Ark would like to see Tesla break into the ride-sharing business as it is a much more profitable business than electric vehicles. "Even though there is some debate at Tesla whether or not they should launch a human driven ride-hailing network, it would be a very good bridge we think to their autonomous strategy and we think they will decide to do that," Wood told CNBC's Bob Pisani on " ETF Edge " on Wednesday. Ark Innovation also bought shares of Shopify , Nintendo , Iridium Communications , Fate Therapeutics , Exact Sciences , 10x Genomics and Beam Therapeutics. The ETF shed shares of Twilio , Tencent , Organovo , Splunk , Materialise and Stratasys . Tuesday Wednesday Thursday Ark Innovation has raked in nearly $5.77 billion in inflows this year alone, according to FactSet. The ETF, which trades under ticker ARKK, is up about 22% this year after an impressive nearly 150% gain in 2020.

A pedestrian passes a banner displaying Palantir Technologies signage during the company's initial public offering, New York Stock Exchange, Sept. 30, 2020.

Michael Nagle | Bloomberg | Getty Images

Ark Invest's Cathie Wood, one of the hottest investors right now, upped her bets on Palantir this week and the stock is surging on her vote of confidence.