Cathie Wood's Ark Invest Continues To Sell Palantir — Offloads $6.4M Worth Of Shares, Loads Up On Coinbase Stock Amid Bitcoin Rebound
Portfolio Pulse from Benzinga Neuro
Cathie Wood's Ark Invest made significant trades, buying $8.4M worth of Coinbase shares and selling $6.4M worth of Palantir shares. The Coinbase purchase follows a partial legal victory, while the Palantir sale comes despite its S&P 500 inclusion.

September 12, 2024 | 3:42 am
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NEGATIVE IMPACT
Ark Invest sold $6.4M worth of Palantir shares despite its recent inclusion in the S&P 500, which could have attracted more institutional investors.
The sale of Palantir shares by Ark Invest, despite its S&P 500 inclusion, may indicate a lack of confidence in its short-term performance, potentially leading to a negative impact on its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 90
POSITIVE IMPACT
Ark Invest purchased $8.4M worth of Coinbase shares following a partial legal victory against the SEC, which may positively impact Coinbase's stock.
The purchase of Coinbase shares by Ark Invest, especially after a favorable legal outcome, suggests confidence in Coinbase's future performance, likely boosting investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90