Cohen made the sale after converting B shares to A shares. He sold 500,000 shares on 12/01/23 and another 156,100 shares on 12/04/23 at prices around $19-$20.
The value of the stock sold was nearly $13 million.
This news was shortly followed by quite the opposite news.
Palantir shares closed nearly 6.4% lower at $17.13 on Wednesday. Palantir stock was down nearly 9.5% over the past month. Wood scooped up a decent amount in the innovation-led company’s stock during its correction phase.
The move re-iterates Ark Investment Management’s continuous emphasis on businesses that are potentially disruptive and innovative.
PLTR Price Action: Palantir stock is up 145% over the past year. The stock gained little by noon on Thursday, up 0.05%. The Golden Cross established in early November with the 50-day SMA crossing over the 100-day SMA, indicated positive investor sentiments around the stock.
Read Next: Palantir’s Stock Surge Meets Potential Pause
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