Cathie Wood-Led Ark Invest Continues To Sell Coinbase Shares, Despite Uptick In Bitcoin, Loads Up On Palantir Stock
Portfolio Pulse from Benzinga Neuro
Cathie Wood's Ark Invest sold 24,141 shares of Coinbase (COIN) and bought shares of Palantir Technologies (PLTR), despite a rise in Bitcoin prices. The sale of COIN shares through ARKK, ARKW, and ARKF amounted to $6.06 million, with COIN's price at $250.99, up 3.31%. Ark Invest purchased 10,039 PLTR shares worth $225,074, following a previous day's purchase worth $90,647. Additionally, Ark made trades in TDOC, PATH, RXRX, IRDM, and ROKU through its various ETFs.
April 11, 2024 | 3:17 am
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NEGATIVE IMPACT
Ark Invest sold 24,141 shares of Coinbase, totaling $6.06 million, as COIN's price rose to $250.99, a 3.31% increase.
The sale of COIN shares by Ark Invest, despite its price increase, could indicate a bearish outlook by Ark on COIN's short-term performance or a strategic portfolio adjustment. This might lead to a negative perception among investors.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Ark Invest bought 10,039 shares of Palantir Technologies worth $225,074, adding to a previous purchase, despite a slight price decrease.
Ark Invest's continued investment in PLTR, even after a price dip, suggests a bullish outlook on the company's future prospects. This could positively influence investor sentiment towards PLTR in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90