On Thursday, Cathie Wood-led Ark Invest made significant trades involving Palantir Technologies Inc. (NYSE:PLTR).
The Palantir Trade
Ark Invest’s decision to sell Palantir Technologies Inc. (NYSE:PLTR) shares on Thursday comes amid a backdrop of competitive pressures in the AI space.
Recently, Palantir has faced challenges from Chinese startup DeepSeek, which has introduced a high-performance AI computing solution at a lower cost. This development has caused some concern among investors, leading to fluctuations in Palantir’s stock price.
Ark Invest executed a sale of 127,969 Palantir shares worth $10.4 million through its flagship ARK Innovation ETF (NYSE:ARKK). The stock closed at $81.22 on Thursday, January 30, marking a 1.83% increase from the previous day.
Notably, Ark has been on a Palantir share-selling spree. In early January, the firm had sold $14.93 million worth of the Alex Karp-led technology company’s shares.
Other Key Trades:
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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
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