Cathie Wood Sells Another $2.4M In Palantir And $7.8M In This Social Media Company On Wednesday

Cathie Wood’s Ark Investment Management sold 228,594 shares of Palantir Technologies Inc PLTR, worth nearly $2.4 million, on Wednesday.

Shares of the Peter Thiel-founded technology company slipped 2.8% to $10.14 in the after-hours session after closing 0.5% at $10.43 in regular trading on Wednesday.

With the latest sale of shares, Ark’s ownership of Palantir has effectively come down to nil. 

See Also: How To Buy Palantir (PLTR) Shares

On Tuesday, Wood had dumped $123 million worth of Palantir shares, while on Feb. 18 she had jettisoned another $148.9 million worth of stock.

Palantir missed earnings estimates earlier in February for the fourth quarter. 

Ark also sold 237,143 shares of Twitter Inc TWTR worth $7.8 million. Twitter shares closed 0.5% lower at $32.76 in Tuesday’s regular trading and fell 1.1% to $32.41 in the after-hours session.

With the sale, the total market value of Ark’s Twitter shares across funds is now nearly $75.9 million.

On Tuesday, Twitter said it is looking to raise $1 billion through the sale of $1 billion senior notes due 2030 in a private institutional placement. The proceeds will be utilized for general corporate purposes.

The company’s board also approved a $4 billion share repurchase program earlier in February as it announced its fourth-quarter results.

Read Next: Here Are Some Safety Tips For Using Twitter In Ukraine Amid Russian Military Action

Market News and Data brought to you by Benzinga APIs
Posted In: NewsSector ETFsBroad U.S. Equity ETFsShort IdeasTechTrading IdeasETFsARK InvestCathie WoodData AnalyticsPeter Thiel
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...