Cathie Wood's Ark Invest Dumps Palantir Shares Amidst S&P 500 Inclusion And Extended AI Alliance

Benzinga Neuro

September 25, 2024

On Wednesday, the Cathie Wood-led Ark Invest made a notable move by selling a significant portion of its stake in Palantir Technologies Inc (NYSE:PLTR).

The Palantir Trade: The ARK Innovation ETF (NYSE:ARKK) offloaded 62,809 shares of Palantir. The sale came just days after , replacing American Airlines Group, Inc. This inclusion could potentially boost Palantir’s stock as it gains wider exposure to investors and as shares are accumulated to be included in index funds that mirror the S&P 500. Despite the positive news, Ark Invest decided to reduce its exposure to the company.

Moreover, the sale occurred on the same day Palantir announced a multi-million-dollar extension of its deal with APA Corporation. The deal, which builds on three years of collaboration, introduces new AI capabilities through Palantir's Artificial Intelligence Platform (AIP) software. Despite these developments, Ark Invest’s move suggests a strategic shift in its investment approach towards Palantir.

The value of the trade, based on Palantir’s closing price of $37.12 on the same day, is approximately $2.33 million.

See Also: General Motors To Lay Off About 1700 Employees Ahead Of Chevrolet Malibu Phase-Out And Re-Tooling For EV Production (UPDATED)

Other Key Trades:

Ark Invest’s ARK Genomic Revolution ETF (ARKG) sold shares of Veeva Systems Inc (VEEV) and shares of Butterfly Network Inc (BFLY).
The ARK Autonomous Technology & Robotics ETF (ARKQ) sold shares of Materialise NV (MTLS) and also shares of Vuzix Corp (VUZI).
The ARK Next Generation Internet ETF (ARKW) sold shares of Roku Inc (ROKU). The ARK Space Exploration & Innovation ETF (ARKX) bought shares of Blade Air Mobility Inc (BLDE) and sold shares of Mynaric AG (MYNA).

Image via Ark Invest

Read Next:

Trump’s Mars Landing Promise Gets Slammed By Peter Schiff Even As Elon Musk Says SpaceX Plans 5 Launches

This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal

Recommended

Why Are 21 Billionaires Moving Their Money ASAP? - Ad

Global Demand for Defense Metals Is Surging 7X - Ad

Trump Signs Law to Launch Dollar 2.0 - Ad

The no-drug-testing Enhanced Games is going public in two ways — with a new listing on the Nasdaq stock exchange and also by offering a direct-to-consumer business focused on performance products in a move it says “aims to democratize access to performance enhancement tools and protocols.”

XRP Surges 7% As ETFs Get Ready To Launch: How High Can It Go?

XRP (CRYPTO: XRP) is up 7% on Monday as traders positioned for potential ETF-driven momentum after five spot XRP exchange-traded funds are getting ready to launch.

The U.S. Wants Metal Independence - And This Nevada Opportunity Fits the Moment

The U.S. Wants Metal Independence - And This Nevada Opportunity Fits the Moment - Ad

Washington's push for domestic copper, silver, gold, and tungsten is reshaping the resource landscape. Their neighbor's multi-metal hits, supported by $6M in federal funding and a 300%+ YTD surge, confirmed this Nevada corridor is the right kind of ground. Now another early-stage explorer has stepped into the same trend as interest accelerates.

These 8 Democrats voted with Republicans on the government shutdown deal. Here's how they explain it

WASHINGTON (AP) — The Democratic senators — eight in total — faced almost instant blowback from members of their own party as to allow the Senate to move forward on that would reopen the government.

Officials scour charred site of Kentucky UPS plane crash for victims and answers

LOUISVILLE, Ky. (AP) — The grim task of finding victims from the firestorm that followed the in Louisville, Kentucky, entered a third day Thursday as investigators gather information to determine why the aircraft caught fire and lost an engine on takeoff.

Why Is a $116B Mining Giant Backing a $10M Firm?

Why Is a $116B Mining Giant Backing a $10M Firm? - Ad

Rio Tinto rarely makes early-stage bets. Yet one small N. American firm earned its trust with projects in lithium, uranium, and titanium - all vital to U.S. defense and energy independence.

Warren Buffett Only Has Couple Of Rules For People Who Want To Work For Him, But Here's One Habit He Particularly Detests

Buffett instructs Berkshire Hathaway employees to think like owners and report bad news immediately. He values long-term investments and integrity.

Amazon's $150 Billion AI Capex Surge Could Force Its First Big Bond Deal In Years

Amazon may need to tap Wall Street for funds as it faces rising AI and data center spending, despite sitting on $84 billion in cash.

"Tech Prophet" Who Predicted the iPhone Now Predicts...

"Tech Prophet" Who Predicted the iPhone Now Predicts... - Ad

George Gilder - who predicted the iPhone 17 years early and gave Reagan the first microchip - is making his boldest call yet. He says an American nanotech "super-convergence" could mint more millionaires than any event in recent memory. He's found 3 stocks set to benefit the most.

These are the 37 donors helping pay for Trump's $300 million White House ballroom

WASHINGTON (AP) — President Donald Trump says his $300 million White House ballroom will be paid for “100% by me and some friends of mine.”

AstraZeneca's Investigational Hypertension Drug Shows Significant Blood Pressure Control In Pivotal Trial

AstraZeneca's Baxdrostat cut blood pressure by 14 mmHg in the Phase 3 Bax24 trial, showing strong efficacy and safety in resistant hypertension patients.

Legally "Skim" $6,361 Into Your Account?

Legally "Skim" $6,361 Into Your Account? - Ad

A former hedge fund manager is now sharing his "Skim Codes" with regular people. They're not stocks. They're not crypto. They're 18-character codes designed to profit from recent market conditions. All you have to do is punch them into an ordinary brokerage account. 84% of these codes have given people the chance to generate cash payouts so far... and his next code is going out any day now.

Iran confirms seizure of oil tanker in the Strait of Hormuz

TEHRAN, Iran (AP) — Iran on Saturday confirmed as it traveled through the narrow Strait of Hormuz over violations including carrying an illegal consignment, state media reported.

Tesla Sets A New Sales Record, But Not In America

Tesla set several records in the third quarter. The company now has a big annual record set, but its not for the American market.

The Tesla Shock Nobody Sees Coming

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as January 29.

How To Earn $500 A Month From HP Stock Ahead Of Q4 Earnings

HP offers an annual dividend yield of 4.75% ($1.16 a year). How can investors exploit its dividend yield to pocket a regular $500 monthly?

Trump Withdraws Support For 'Wacky' Marjorie Taylor Greene In Sudden, Fiery Split: 'I Can't Take...'

President Donald Trump said he is withdrawing his endorsement of longtime ally Rep. Marjorie Taylor Greene — here's what happened.

Elon's New Device Could Launch Biggest IPO of the Decade

Elon's New Device Could Launch Biggest IPO of the Decade - Ad

Elon Musk's new device is being called a "game-changer"-and even the White House is using this tech. Jeff Brown says it could launch Musk's next trillion-dollar company and make early investors rich. You can claim a stake now for as little as $500.

Jim Cramer: Chipotle Is 'Too Expensive,' Buy This Plane Maker

On "Mad Money," Cramer discusses Henry Schein, Bloom Energy, Tyler Technologies, Boeing and Chipotle Mexican Grill.

TSMC Chief CC Wei Says Nvidia CEO 'Wants More Chips' As Jensen Huang Enjoys Hotpot In Taipei And Praises The Taiwanese Foundry: 'No TSMC, No Nvidia'

Nvidia CEO Jensen Huang praised TSMC as vital to his company's success during his Taiwan visit, where he met TSMC chief CC Wei over hotpot and reportedly requested more chips amid surging AI demand and U.S. export restrictions.

Elon's Optimus to Mint New "Musk Millionaires" as Soon as Jan 26?

Elon's Optimus to Mint New "Musk Millionaires" as Soon as Jan 26? - Ad

Elon Musk may be set to create more "Musk Millionaires" as soon as January 26... Because on that day, he's expected to officially launch his Optimus robot... An AI-powered robot that Elon himself says will be capable of "doing anything bar nothing". Now, it's important to point out that Elon hasn't released it to the public yet... But ahead of the launch, one Silicon Valley insider has identified a "backdoor way" for any American to invest in Optimus with a regular brokerage account...

Hours After Marjorie Taylor Greene's Public Rebuke, Trump Responds With Restraint: 'She's A Nice Person'

President Trump has changed his perspective on MTG after her unexpected resignation from Congress.

Sean Duffy Predicts Air Travel Will 'Slow To A Trickle' Ahead Of Thanksgiving, Says Pete Hegseth Offered Military ATCs Amid Staffing Woes

Air travel will be impacted by ongoing shutdown, Sean Duffy said, predicting massive disruption ahead of Thanksgiving.

Why Are 21 Billionaires Moving Their Money ASAP?

Why Are 21 Billionaires Moving Their Money ASAP? - Ad

One of the biggest stock market events in 25 years is rapidly unfolding... The economist who predicted the 2008 Financial Crisis says it will be: "The Biggest Crash of Our Lifetime." It could cut the entire tech marketing by HALF.

AT&T reached a $177M data breach settlement. What consumers should know about claiming their money

NEW YORK (AP) — AT&T has reached a combined $177 million settlement over two . And impacted consumers have a little over a month left to file a claim for their chunk of the money.

MacKenzie Scott Has Donated More Than $19 Billion, Yet Her Wealth Grows Faster

MacKenzie Scott, the billionaire philanthropist and ex-wife of Amazon founder Jeff Bezos, has donated a staggering $19.25 billion since 2020.

Global Demand for Defense Metals Is Surging 7X

Global Demand for Defense Metals Is Surging 7X - Ad

Lithium, uranium and titanium are at the center of a global race. Nations are scrambling to secure them for fighter jets, EVs, and reactors. One N. American project could help fill the West's critical-minerals gap.

Bernie Sanders Says Shutdown Fight Is About Trump Giving Trillion-Dollar Tax Breaks To 'Mr. Musk, Mr. Bezos' And Other Billionaires: 'Must Not Cave'

Sen. Bernie Sanders blamed President Donald Trump's billionaire-focused tax cuts for causing the record-breaking government shutdown, urging Democrats "not to cave" as the Senate moves toward a vote to reopen the government.

XRP Spikes To $2.20 On ETF Interest: Is This Rally Real?

XRP (CRYPTO: XRP) is up 4% on Tuesday, buoyed by the interest in the

Trump Signs Law to Launch Dollar 2.0

Trump Signs Law to Launch Dollar 2.0 - Ad

Trump just signed law S.1582, unleashing the biggest money shift in 100+ years. For the first time since 1913, private firms - not the Fed - can mint a "Dollar 2.0." Treasury says it could drain $6.6T from banks and pay 10X current savings rates. Early investors in minting firms could see 40X returns by 2032.

Investigators look into 'repeating bell' heard during takeoff of UPS cargo plane that crashed

LOUISVILLE, Ky. (AP) — A repeating bell sounded in the cockpit for 25 seconds as pilots tried to control a UPS cargo plane that caught fire, had an engine fall off and this week in Louisville, Kentucky, a National Transportation Safety Board member said Friday.

iPhone Pocket, China Sales, $600 Million Patent Case And More: This Week In Appleverse

Apple made headlines this weekend with a record-breaking TV drama, a viral new accessory, surging iPhone 17 sales in China, and a major $600 million patent ruling.

The U.S. Wants Metal Independence - And This Nevada Opportunity Fits the Moment

The U.S. Wants Metal Independence - And This Nevada Opportunity Fits the Moment - Ad

Pfizer clinches deal for obesity drug developer Metsea after a bidding war with Novo Nordisk

NEW YORK (AP) — U.S. pharmaceutical giant Pfizer signed a deal to purchase development-stage obesity drugmaker Metsera Inc., winning a bidding war against Novo Nordisk, the Danish drugmaker behind weight-loss treatments Ozempic and Wegovy.

Trump EPA moves to abandon rule that sets tough standards for deadly soot pollution

WASHINGTON (AP) — The Trump administration is seeking to abandon a rule that sets tough standards for deadly , arguing that the Biden administration did not have authority to set the tighter standard on pollution from tailpipes, smokestacks and other industrial sources.

Why Is a $116B Mining Giant Backing a $10M Firm?

Why Is a $116B Mining Giant Backing a $10M Firm? - Ad

Rio Tinto rarely makes early-stage bets. Yet one small N. American firm earned its trust with projects in lithium, uranium, and titanium - all vital to U.S. defense and energy independence.

LONDON (AP) — After being last year, Britain’s Labour Party government it billed as a one-off dose of tax hikes to fix the public finances, get debt down, ease the cost of living and spur economic growth.

Trump's Tariffs Face Doubts In Supreme Court: 'Major Questions Doctrine' Looms Large Amid Debate Over President's Emergency Powers

The U.S. Supreme Court raised doubts regarding President Donald Trump's authority to impose sweeping tariffs using a decades-old emergency powers law.

"Tech Prophet" Who Predicted the iPhone Now Predicts...

"Tech Prophet" Who Predicted the iPhone Now Predicts... - Ad

Deep in Trump country, coal miners with black lung say government is suffocating the 'working man'

OAK HILL, W.Va. (AP) — Lisa Emery loves to talk about her “boys.” With each word, the respiratory therapist’s face softens and shines with pride. But keep her talking, and it doesn’t take long for that passion to switch to hurt. She knows the names, ages, families and the intimate stories of each one’s scarred lungs. She worries about a whole community of West Virginia coal miners — including a growing number in their 30s and 40s — who come to her for help while getting sicker and sicker from what used to be considered an old-timer’s disease: black lung.

Trending Now