Tiger Brokers

Cathie Wood Just Dumped $7.4 Million Worth of Palantir And AMD Shares — Here's What Ark Is Buying Instead

Benzinga
Oct 31

On Thursday, Cathie Wood-led Ark Invest made significant trades involving Palantir Technologies Inc., Advanced Micro Devices Inc., Pacific Biosciences of California Inc., and DoorDash Inc..

ARK Space Exploration & Innovation ETF executed a sale of 19,954 shares of Palantir on Thursday. The transaction, valued at approximately $3.9 million based on the closing price of $194.55, comes amid the Alex Karp-led company’s expanding role in AI-driven technologies.

The company recently collaborated with drone firms to enhance AI-powered flight and analytics, marking a significant step in the data-driven future of aerial technology.

Ark has been on a Palantir selling spree this week, unloading $4.1 million worth of shares on Tuesday after selling another $2.63 million on Monday.

On the same day, ARK Autonomous Technology & Robotics ETF (BATS:ARKQ) sold 13,651 AMD shares amounting to approximately $3.5 million at the closing price of $254.84.

This move follows AMD’s recent $1 billion partnership with the U.S. government to develop supercomputers. The collaboration aims to bolster America’s leadership in high-performance computing, with potential impacts on energy, medicine, and national security.

ARK Innovation ETF acquired 633,420 shares of Pacific Biosciences of California on Thursday, valued at approximately $1.23 million at the closing price of $1.94.

This purchase aligns with anticipation surrounding Pacific Biosciences’ upcoming financial results, expected to be released on Nov. 5. Investors are keenly watching for insights into the company’s performance and future prospects.

Ark’s ARKX ETF also bought 2,045 shares of DoorDash, totaling roughly $519,573 at the closing price of $254.07.

This acquisition follows analyst expectations that DoorDash may exceed third-quarter targets and raise its outlook post-Deliveroo acquisition. The company is projected to achieve the high end of its gross merchandise value guidance. The earnings are expected on Nov. 5.

Benzinga’s Edge Stock Rankings indicate AMD has Value in the 4th percentile. Here is how the stock measures up to other AI plays.

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