Cathie Wood Liquidates 30 Million Shares In Palantir In Just 3 Trading Days

Ark Invest CEO Cathie Wood seems to be pulling out from software company Palantir Technologies (NYSE: PLTR). On Tuesday, the tech bull dumped 11.76 million shares on the company. 

This is on top of the approximately 18.28 million shares sold by the investment firm last week. Currently, Wood only holds around 0.29 million Palantir shares across all funds she’s managing.

All in all, the ARK ETF asset manager apparently lost approximately US$380 million on the Palantir investment so far.

After buying Palantir shares regularly over the year, Wood pulled out the sizable amount of investment at the time that the software firm’s prices are trading its lowest since its IPO in September 2020.

Source: CNBC

Just in an interview in August 2021, Wood rallied behind the investment, touting Palantir as “advanced technologically.”

In a CNBC interview a day before dumping Palantir shares, Wood reaffirmed her contested statement that innovation stocks “are not in a bubble.” She added that she believes “innovation is in bargain-basement territory.”

Palantir last traded at US$10.48, down 22.07% in the last 5 days.


Information for this briefing was found via Seeking Alpha. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

America Uses More Copper Than It Makes | Simon Quick – Canadian Copper

Gold Bulls Run Faster Than New Mines?! | Thomas Mumford – Scottie Resources

Is This the Start of a New Gold Rush | Russell Ashton – Juggernaut Exploration

Recommended

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Altamira Gold Encounters Porphyritic Intrusive Rocks In Initial Scout Drilling At Regional Targets

Related News

Cathie Wood’s ARK Innovation Is The “Worst-Performing” Fund In Q1 2022, Says Analytics Firm

Contrary to her own belief, Cathie Wood’s ARK Innovation (NYSE: ARKK) fund is the worst-performing...

Thursday, April 7, 2022, 04:56:00 PM

Cathie Wood Has Sold $266 Million of Tesla Stock in September Despite $3,000 Price Target

Cathie Wood has sold even more Tesla (NASDAQ: TSLA) stock this week, offloading another 81,600...

Friday, September 17, 2021, 11:28:00 AM

Emerge Canada: Cathie Wood-Linked ETF Firm Accused of Diverting Investor Funds

Cathie Wood’s Toronto-listed partner, Emerge Canada, is facing serious allegations from the Ontario Securities Commission,...

Tuesday, March 11, 2025, 10:35:05 AM

BMO Ends Partnership with Cathie Wood’s ARK Investment, Shutters Funds

Bank of Montreal (TSX: BMO) is terminating its partnership with Cathie Wood’s ARK Investment Management...

Wednesday, April 23, 2025, 12:47:00 PM

Cathie Wood Is Targeting Over US$1 Million Per Bitcoin In 2030 But Her Own Math Might Prove Otherwise

ARK Invest CEO Cathie Wood has a bullish target for the price of bitcoin: over...

Friday, April 8, 2022, 03:07:00 PM