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Cathie Wood Sells $41 Million Worth Of Palantir Shares Following Post-Earnings Plunge

Benzinga05-07

On Tuesday, Cathie Wood‘s Ark Invest made significant trades, notably selling shares of Palantir Technologies Inc.. This move comes after Palantir’s stock faced pressure despite surpassingfirst-quarter earningsexpectations.

The Palantir Trade saw Ark Invest’s ARK Innovation ETF sell 376,874 shares of the AI-focused company. The trade was valued at $41.03 million. On Tuesday, Palantir shares closed 12.05% lower at $108.86.

This decision followed Palantir’s recent earnings report, which, despite exceeding analyst predictions, led to a stock decline. The stock’s drop is attributed to high investor expectations. Palantir’s shares have surged 332% over the past year and 45% year-to-date, yet the post-earnings dip highlights market volatility.

Analysts remain divided on Palantir’s future. Some view it as a key player in the AI sector, predicting a potential $1 trillion market cap within three years. However, others, like Jefferies’ Brent Thill, express skepticism about institutional interest, emphasizing its retail-driven nature.

Palantir remains Ark’s second-largest holding, accounting for approximately 8.14% of the firm’s portfolio by weight, with a total value of $421.65 million.

Other Key Trades:

  • Personalis Inc. — Ark Invest’s ARKG ETF acquired 318,741 shares.

  • Guardant Health Inc. — 237,374 shares were purchased by ARKK.

  • Twist Bioscience Corp. — ARKK bought 283,186 shares.

  • Natera Inc. — 55,623 shares were added to ARKK.

  • GitLab Inc. — 30,107 shares were acquired by ARKK.

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Comment5

  • Guavaxf30
    ·05-08
    Ooh. This is the trigger for me to start buying PLTR. Katie has been pretty bad on timing lately. 
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  • a4xrbj1
    ·05-07
    Cathie Woods so smart, pumped up Palantir and couldn't foresee that this absolutely insanely overvalued stock (PEG value of 6, >1 is considered overweight) would plummet down as it can't increase revenue enough with their limited TAM. Investors should do reverse Cathie Woods instead.
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  • Jalopy88
    ·05-07
    Juz go opposite of wat she doing, never wrong 😬
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  • She is the Chief of Buy high sell low. If not she gambled correctly in Tesla many years back, she is one of the worst fund managers ever.
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  • They just bought this & now sold when it plunged. I guess its easily earned back when u have millons to play with.
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