Cathie Wood Dumps $3.7 Million Of Palantir Stock Despite AI Boom, Shifts to Other Investments
Ark Invest reduced holdings in Palantir and Shopify while increasing positions in Qualcomm and BYD, despite recent challenges facing these companies.
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Ark Invest, managed by Cathie Wood, executed several strategic portfolio adjustments on Monday, demonstrating their active investment approach. The firm sold 20,208 Palantir shares across two ETFs, even as the company strengthens its artificial intelligence capabilities.
They also reduced their Shopify position by 22,393 shares, despite the e-commerce platform's recent partnership with OpenAI. Conversely, Ark purchased 20,382 Qualcomm shares, overlooking the company's regulatory issues in China, and acquired 69,000 BYD shares despite the electric vehicle manufacturer's recent recall of over 115,000 vehicles.
Additional trades included selling healthcare stocks like Guardant Health and purchasing shares in Intuitive Surgical and Exact Sciences. These moves reflect Ark's strategy of focusing on innovative technology and healthcare companies while maintaining flexibility in their investment decisions.
Original Article
benzinga.comhttps://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/10/48319178/cathie-wood-dumps-3-7-million-of-palantir-stock-despite-ai-boom-heres-what-shes-buying