Cathie Wood's Monday Maneuvers: Ark Invest Continues To Offload Robinhood And Palantir Shares
Portfolio Pulse from Benzinga Neuro
Cathie Wood's Ark Invest continues to sell shares of Robinhood and Palantir, with significant trades made on Monday. Robinhood's sale follows a settlement with California's DOJ, while Palantir's sale comes after its inclusion in the S&P 500. Other trades include buying Guardant Health and Shopify, and selling Veracyte, Roku, and Materialise.
September 17, 2024 | 2:36 am
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NEGATIVE IMPACT
Ark Fintech Innovation ETF sold Robinhood shares, aligning with Ark Invest's broader strategy of reducing exposure to Robinhood.
The sale of Robinhood shares by ARKF suggests a strategic shift, potentially impacting the ETF's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Ark Innovation ETF sold Palantir shares, reflecting Ark Invest's strategy to capitalize on recent price gains.
The sale of Palantir shares by ARKK indicates a move to lock in profits, which may affect the ETF's short-term performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Ark Invest sold 18,961 shares of Robinhood, continuing a trend from last week. This follows Robinhood's $3.9M settlement with California's DOJ over Bitcoin withdrawal bans.
The continued sale of Robinhood shares by Ark Invest suggests a bearish outlook, especially following the recent legal settlement. This could negatively impact short-term stock prices.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Ark Invest sold 4,407 shares of Palantir after its stock rose 14.08% due to its inclusion in the S&P 500 index.
Despite the positive news of S&P 500 inclusion, Ark Invest's sale of Palantir shares indicates a potential short-term price correction.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85