Palantir Stock Rally Stalls As Cathie Wood's ARK Invest Sells $15M In Shares

Quick Summary:

On Monday, Cathie Wood's investment management firm, ARK Invest, offloaded $15 million worth of Palantir stock, totaling 196,728 shares across its flagship ETFs, including ARK Innovation ETF (NYSE:ARKK) and ARK Next Generation Internet ETF (NYSE:ARKW).

Palantir Technologies Inc.‘s (NASDAQ:PLTR) stock price surged 355% over the past 12 months, but the shine may be fading as technical indicators and high-profile moves signal potential turbulence ahead.Cathie Conundrum?

While Wood remains a long-time supporter of tech disruptors, her pivot toward Amazon.com Inc (NASDAQ:AMZN) underscores growing concerns about Palantir’s valuation.

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Author / Journalist: Surbhi Jain

Category: Technology

Markets: United States

Topics: US0231351067 Trading Ideas KeyProj Expert Ideas Cathie Wood ARKK Top Stories AMZN Jim Cramer Stories That Matter Pro Project PLTR Technicals Benzinga ARKW Tech

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-07 @ 13:41:13 (2 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 312 words

Reading Time: 2 minutes read

Sentences: 13 lines

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Copyright Owner: © Benzinga

News ID: 24960576

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