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Cathie Wood's Monday Maneuvers: Ark Invest Continues To Offload Robinhood And Palantir Shares

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Cathie Wood's Monday Maneuvers: Ark Invest Continues To Offload Robinhood And Palantir Shares

On Monday, Cathie Wood-led Ark Invest made significant trades, with Robinhood Markets Inc (NASDAQ:HOOD) and Palantir Technologies Inc (NYSE:PLTR) being the most prominent.

The HOOD Trade: Ark Invest’s Ark Fintech Innovation ETF (NYSE:ARKF) fund sold 18,961 shares of Robinhood in a trend that continues from the previous week. This move follows Robinhood’s recent agreement to a $3.9 million settlement with California’s Department of Justice over its past ban on Bitcoin (CRYPTO: BTC) cryptocurrency withdrawals.

Despite this, Robinhood has been transitioning from a meme stock trading platform to a more mature and competitive player against traditional brokerages. Based on Robinhood’s closing price of $22.21 on the same day, the value of the trade is approximately $421,123.

The PLTR Trade: Ark Invest’s ARK Innovation ETF (NYSE:ARKK) fund sold 4,407 shares of Palantir. The firm had been offloading Palantir shares last week as well.

This sale after Palantir’s stock soared by 14.08% following the announcement that the company will join the S&P 500 index. Based on Palantir’s closing price of $36.31 on the same day, the value of the trade is approximately $160,018.

Other Key Trades:

  • Ark Invest’s ARKG fund bought shares of Guardant Health Inc (GH).
  • Ark Invest’s ARKG fund sold shares of Veracyte Inc (VCYT). Ark Invest’s ARKK fund bought shares of Shopify Inc (SHOP).
  • Ark Invest’s ARKK fund sold shares of Roku Inc (ROKU). Ark Invest’s ARKQ fund sold shares of Materialise NV (MTLS).

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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal

 

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Posted-In: ARK Invest ARK Invest ETFs Cathie Wood PalantirEquities News Markets ETFs

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