Cathie Wood Dumps Another $123M In Palantir Shares, Loads Up $20M In Tesla On The Dip

Cathie Wood’s Ark Investment Management sold 11,761,901 shares of Palantir Technologies Inc PLTR worth nearly $123.3 million — based on the stock’s Tuesday closing.

Palantir shares ended Tuesday’s regular session 4.9% lower at $10.48. The Peter Thiel-co-founded company’s shares were mostly unchanged in the after-hours trading.

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Palantir missed earnings estimates earlier in the month for the fourth quarter, following which Wood has been on a dumping spree. On Feb.18, Ark sold 13.5 million shares of Palantir worth an estimated $148.9 million. 

Wood’s latest sale of PLTR shares came on a day when the company announced a partnership with the U.S. Centers for Disease Control and Prevention centered around a fight against COVID-19.

Ark also purchased 24,366 shares of Tesla Inc TSLA, worth $20.02 million, on Tuesday.

Tesla shares rose 1.15% to $831 in the after-hours trading on Tuesday. The shares ended the regular session 4.1% lower at $821.53.

The Elon Musk-led automaker is Ark Invest’s largest holding across funds. The market value of shares held by Ark was worth $1.32 billion at Tuesday’s closing.

Tesla shares fell along with other automotive names on Tuesday as investors weighed in the potential impact of rising Russia-Ukraine tensions.

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