Cathie Wood's Ark Invest has been making waves in the investment world with its latest strategic moves. The firm has recently focused its attention on two major players in the tech industry: Meta (META) and Palantir (PLTR).

Ark Invest's Bullish Stance on Meta (META)

Ark Invest has continued its buying spree on Meta, the social media giant, even as the stock experienced a slight bounce-back on Friday. The firm purchased 13,494 shares of Meta, valued at $5.98 million. This move aligns with Ark's overall investment strategy, as the company had also acquired Meta shares in two previous sessions following the company's quarterly financial results announcement.

The Meta stock had faced a 10.56% decline on Thursday, in response to the company's cautious sales outlook for the second quarter and its remarks about significant investment in artificial intelligence. Ark Invest, however, remained undeterred and added 27,961 Meta shares, worth $12.34 million, through its various ETFs, including the Ark Innovation ETF (ARKK), Ark Next Generation Internet ETF (ARKW), and Ark Fintech Innovation ETF (ARKF).

Palantir (PLTR) Catches Ark Invest's Attention

Ark Invest has also turned its attention to Palantir Technologies, Inc., another prominent player in the tech industry. The firm made several trades on Friday, with a notable addition of a sizable number of Palantir shares. This move comes ahead of Palantir's expected release of its first-quarter financial results on May 5.

Analysts anticipate Palantir to report profits per share of 8 cents on average, based on a revenue of $625.33 million, according to Benzinga Pro data. This would represent an increase compared to the fourth quarter's results of $525.19 million and 5 cents per share, respectively.

Ark Invest's Previous EV Stock Buy

In the past, Ark Invest has also demonstrated its confidence in the electric vehicle (EV) market, particularly in Tesla (TSLA). A few days ago, the firm purchased Tesla shares after they had dropped more than 10% due to arguments with OpenAI. The funds raised were then used to increase the company's visibility.

Ark's strategic acquisitions of Meta, Palantir, and Tesla shares showcase its unwavering belief in the potential of these companies to drive future growth and innovation in the tech industry.