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Cathie Wood Sells Palantir, Buys SpaceX

24 Aug

Summary

ARK Invest sold $27.2 million in Palantir shares on Aug. 21.
SpaceX shares worth $27.5 million were purchased by ARK Invest.
Palantir stock surged 43% after its Aug. 3 earnings report.

Cathie Wood's ARK Invest recently divested approximately $27.2 million of Palantir Technologies stock on August 21. This significant sale occurred as the firm simultaneously acquired $27.5 million worth of SpaceX shares. The trading activity presents a notable divergence in investment strategies for two high-profile growth companies within the AI sector.

The divestment of Palantir shares by ARK Invest follows a substantial upward trajectory for the company's stock. Shares experienced a surge of roughly 43% following the release of the company's earnings report on August 3. This rally was propelled by financial results that proved compelling for investors.

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