Cathie Wood Dumps $7.9 Million Worth Of Palantir Stock Despite 121% Revenue Surge — Ark Doubles Down On Peter Thiel’s Buzzy Crypto Upstart
On Monday, Cathie Wood-led Ark Invest made notable trades, including a significant purchase of Bullish (NYSE:BLSH) shares and a sell-off of Palantir Technologies Inc (NASDAQ:PLTR) stock.
The Palantir Technologies Trade
Ark Invest reduced its holdings in Palantir Technologies Inc (NASDAQ:PLTR) by selling 38,338 shares through ARK Innovation ETF (BATS:ARKK). This move comes after Palantir’s impressive third-quarter earnings report, which saw the company exceed analyst expectations. Palantir reported a revenue of $1.18 billion, surpassing the anticipated $1.09 billion, and adjusted earnings of 21 cents per share, beating the forecasted 17 cents per share. The company’s U.S. commercial revenue soared by 121% year-over-year, reaching $397 million.
Despite this positive performance, Ark Invest decided to trim …
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