Cathie Wood Sells $13.15M Worth Of Coinbase Shares Amid Bitcoin Flirting With All-Time High Levels — Shops For Palantir Stock Instead
Portfolio Pulse from Benzinga Neuro
Cathie Wood's Ark Invest sold $13.15M worth of Coinbase (COIN) shares and bought Palantir (PLTR) shares, among other trades. The sale of Coinbase shares occurred as Bitcoin neared all-time highs, while the purchase of Palantir shares followed a strong buy recommendation from Jim Cramer. Other notable trades included investments in JSC KASPI.KZ ADR (KSPI), Toast Inc (TOST), SoFi Technologies Inc (SOFI), 908 Devices Inc (MASS), Personalis Inc (PSNL), Roku Inc (ROKU), Iridium Communications Inc (IRDM), and Teradyne Inc (TER).
March 08, 2024 | 6:40 am
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POSITIVE IMPACT
Ark Invest purchased 19,749 shares of Palantir worth $522,558, following a strong buy recommendation from Jim Cramer.
The purchase of Palantir shares by Ark Invest, especially after a strong buy recommendation from a high-profile analyst, suggests a positive outlook for the company's short-term stock performance.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 85
NEGATIVE IMPACT
Ark Invest sold 54,215 shares of Coinbase worth $13.15M as Bitcoin approached new highs.
The sale of Coinbase shares by a prominent investment firm like Ark Invest could signal a lack of confidence in its short-term performance, especially as it coincides with Bitcoin's price surge.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90