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Cathie Wood Trimmed Palantir, But the Bigger Story Is Still Valuation

By Sam Quirke. Publication Date: 9/9/2026.

When a star investor sells one of the market's most talked-about stocks, it always grabs headlines. That's exactly what happened in early September, when Cathie Wood's ARK funds, among the most bullish voices on high-growth technology stocks, trimmed their stake in Palantir Technologies Inc. (NASDAQ: PLTR), one of the hottest names in AI. For nervous shareholders, the obvious question was whether they should follow her out the door.

The short answer is probably not based on that sale alone. Look closely at what ARK actually did, and the sale looks far less dramatic than the headline suggests. This wasn't a wholesale exit, but a modest trim as part of a broader portfolio rotation—more routine portfolio housekeeping than a vote of no confidence.

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U.S. Gold Corp (NASDAQ: USAU) is moving its flagship CK Gold Project in Wyoming from permitting to potential construction. The fully permitted, shovel-ready site targets an 11-year mine life with about 85,000 gold-equivalent ounces of average annual production.

A March 2026 feasibility study modeled a $632 million after-tax NPV and 27% IRR at base-case prices, rising to roughly $1.37 billion NPV under a $4,500 gold spot scenario. USAU is now evaluating debt, equity, streaming and offtake options while targeting a construction decision as soon as late 2026.

Learn more about USAU's CK Gold Project and its next milestones

With Palantir shares trading around $170 and holding onto the strong gains that followed last month's earnings, the real question isn't what one fund did last week, but how much further Palantir's rally could continue.

ARK’s Palantir Sale Looks More Like Rebalancing Than a Warning

First, it helps to understand the context of Wood's move. In the same week, ARK Invest also rotated capital across several other high-growth holdings, adding to some positions while trimming others. Palantir was simply one of several technology holdings the firm reduced—hardly evidence of a dramatic change of heart.

To put it in perspective, ARK sold around $25 million worth of Palantir stock. That's a notable sale, but not a full exit. Trimming a position that has rallied sharply in just a few weeks is one of the most ordinary things a portfolio manager can do. After a stock has climbed as far and as fast as Palantir, taking some money off the table is basic risk management, not a signal that the story has soured.

In short, reading too much into a single week's rebalancing would be a mistake. The far more important question is what lies ahead for the business itself, and here the picture is quite encouraging.

Palantir’s Business Keeps Giving Bulls Ammunition

Beneath the noise, Palantir continues to deliver the kind of growth that explains why the stock has been such a favorite in recent years. August's earnings report was the latest in a long string of analyst beats, showing U.S. commercial revenue jumping 149% year over year—exactly the sort of momentum bulls want to see. Management also raised its forward guidance, signaling confidence that this pace of expansion can continue.

At the same time, Palantir's traditional stronghold in government work continues to pay dividends through major contracts. The U.S. Army recently moved the Tactical Intelligence Targeting Access Node program into production, awarding Palantir a $127 million delivery order tied to the AI-enabled system. That reinforces a defense business that remains a formidable and durable moat.

The company has also been forging high-profile partnerships, including with consulting powerhouse PwC and AI infrastructure leader Nebius Group NV (NASDAQ: NBIS). Together, these alliances underline the scale of Palantir's ambitions as it positions itself as the essential operating layer for AI across business and government alike.

The Bear Case Still Starts With Valuation

That said, doubters have a point, and their argument centers on one word: valuation. This concern has haunted Palantir for years, and it's no surprise that the stock trades at a price-to-earnings ratio of around 145. That's a level that leaves very little room for error, and even a modest disappointment in future earnings reports could send the shares tumbling.

Skeptics also question whether Palantir's hands-on, heavily customized approach can scale smoothly as the company moves beyond its largest, most sophisticated clients to a broader base of smaller customers. Famed short-seller Michael Burry, for one, has been openly critical of the company, likening it to a high-priced consultant riding a wave of AI enthusiasm.

These are legitimate concerns, and anyone buying at these levels must accept that the stock is priced for continued excellence. A lofty valuation is a double-edged sword: It reflects enormous optimism, but it also raises the bar the company must clear to keep shareholders happy.

Cathie Wood’s Sale Is Not the Whole Palantir Story

Back to the original question: should investors follow Cathie Wood in trimming Palantir, or avoid it altogether? Based on the evidence above, the answer is no—not on the strength of her recent selling alone. A small, routine trim that was one of many says very little, especially when considered alongside MarketBeat's Moderate Buy consensus rating.

That is not to dismiss the risks entirely. The valuation is demanding, and investors should size their positions with volatility in mind. But with commercial growth accelerating, government contracts rolling in and a wave of bullish analyst coverage behind it, Palantir heads into the final months of the year with the wind at its back. One fund's routine rebalancing does little to change that.

Could Snowflake's Big Quarter Be a Sign of More to Come?

By Nathan Reiff. Publication Date: 9/11/2026.

During the first half of 2026, cloud-based data and AI platform provider Snowflake Inc. (NYSE: SNOW) experienced a sustained decline in its share price, reflecting market skepticism about the firm's ability to both grow quickly and improve its margins.

A consumption-based revenue model benefited Snowflake while cloud infrastructure buildout was at its peak. More recently, however, it has become a liability as enterprise spending slows and customers seek to minimize their computing costs.

Gold Is Hot. USAU’s CK Gold Story Could Be Heating Up Too! (Ad)

U.S. Gold Corp (NASDAQ: USAU) is moving its flagship CK Gold Project in Wyoming from permitting to potential construction. The fully permitted, shovel-ready site targets an 11-year mine life with about 85,000 gold-equivalent ounces of average annual production.

A March 2026 feasibility study modeled a $632 million after-tax NPV and 27% IRR at base-case prices, rising to roughly $1.37 billion NPV under a $4,500 gold spot scenario. USAU is now evaluating debt, equity, streaming and offtake options while targeting a construction decision as soon as late 2026.

Learn more about USAU's CK Gold Project and its next milestones

Fortunately for Snowflake, that trend may have reversed, most recently with a significant 22% price pop in a single after-hours trading session following its latest earnings report. For investors, it's crucial to determine whether this move was a one-off or an indication of more positive developments to come. With strong revenue retention, accelerating sales and improving margins all in play, Snowflake may have given investors fresh confidence in its ability to continue delivering.

Breakout Numbers Could Change Snowflake's Trajectory

The catalyst for Snowflake's one-day rally was its Q2 fiscal 2027 earnings report, which included a number of notable wins for the company. Adjusted earnings per share (EPS) came in at 62 cents, 17 cents above analysts' expectations and 77% higher than the prior-year period's figure. Revenue was nearly $1.6 billion, $70 million ahead of consensus estimates.

Notably, the earnings beat was wider than the revenue beat, suggesting that the company is growing while also improving its profitability metrics—a feat many investors may not have thought possible for Snowflake until now.

Digging deeper into the company's results, Snowflake impressed in several other areas as well: Product revenue climbed 37% year over year (YOY), operating margin improved considerably and, crucially, the company reported 828 customers paying more than $1 million annually. Its net revenue retention rate was an impressive 126%.

This last figure may be the most pivotal for Snowflake over the longer term. Existing customers spent 26% more than they did last year, a strong sign of the company's product quality. This means the company can compound sales without necessarily adding new accounts.

Accelerating Revenue Growth Is a Positive Sign

Product revenue growth of 37% YOY reflects multiple consecutive quarters of acceleration. This prompted Snowflake to raise its full-year product revenue guidance to nearly $6.1 billion, representing an approximately 36% YOY improvement in this area.

As with revenue retention, Snowflake's success in accelerating product revenue growth—particularly given its consumption-based model—may signal solidifying demand. Coupled with improving profitability, this growth may finally convince investors that Snowflake can win on both the revenue and margin fronts.

Looking Ahead: CoCo, AI Transformation, and More

Snowflake's CoCo AI coding agent boosted its total accounts by more than 2,000 during the latest quarter, bringing the total to 9,100 by the end of the period. This tool could be instrumental in making Snowflake's products stickier across a variety of enterprise data workflows. With CoCo integrated into daily operations, enterprise customers may find switching data platforms cost-prohibitive.

The company's AI products are becoming increasingly impressive, reducing the time required to produce internal marketing content from 24 hours to just two. As Snowflake's AI tools become more efficient, the company will not only be better able to control its own operating costs but also demonstrate more convincingly to potential customers how effective these products can be.

Management's optimism is reflected in its rosy guidance, but Wall Street's view of SNOW shares is also positive. An impressive 34 Buy ratings dwarf the six total Sell and Hold ratings, and the stock still has about 25% upside potential even after shares have climbed 52% year to date (YTD).

With all this upward momentum, investors might understandably be concerned that Snowflake's valuation is becoming too lofty. With a price-to-sales (P/S) ratio of 25, the company trades at a premium to the broader market, but its valuation is not as stretched as it has been in recent years.

Ultimately, Snowflake's latest quarter demonstrates that the company is achieving meaningful operational and sales improvements while strengthening its customer base and revenue retention. The results may give investors greater confidence that Snowflake can maintain this momentum going forward.