Key takeaways
- Cathie Wood’s ARK Invest sold more than 38,000 Palantir shares ahead of earnings, reallocating the funds to Bullish and Beam Therapeutics.
- This move reflects ARK’s broader strategy to balance exposure across the AI, crypto, and biotech sectors.
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Cathie Wood, chief investment officer at ARK Invest, sold more than 38,000 shares of Palantir Technologies ahead of the AI data analytics company’s earnings report. Sales focused primarily on ARK’s flagship ETF, ARKK.
ARK Invest reallocated capital from Palantir to other assets like Bullish, a crypto exchange operator, with Bullish shares purchased in several ARK ETFs. The investment firm is also increasing its positions in companies like Beam Therapeutics while reducing its exposure to Palantir.
