On Friday, Cathie Wood-led Ark Invest made significant trades involving Palantir Technologies Inc. PLTR, Ark 21Shares Bitcoin ETF ARKB, and Quantum-Si Inc. QSI.
ARK Invest, led by Cathie Wood, made several notable trades on Friday, with a focus on reducing positions in key technology and emerging growth stocks. Here's a summary of the trades:
1. Palantir Technologies (PLTR): Ark Invest sold 20,332 shares of the hot AI stock, continuing a recent trend of scaling back on its PLTR holdings. The sale was made through the ARK Innovation ETF (NYSE:ARKK) at an estimated value of $1.6 million, based on PLTR's last closing price of $79.89.
2. Ark 21Shares Bitcoin ETF (ARKB): As Bitcoin crossed the $100,000 mark for the first time, Ark Invest's ETF ARKB gained attention. Cathie Wood, a known advocate for Bitcoin, also marked the cryptocurrency's historic rally.
3. Quantum-Si (QSI): Ark Invest sold 452,570 shares of the company through the ARK Genomic Revolution ETF (NYSE:ARKG).
4. Tempo AI Inc (TEM): Ark Invest bought 53,376 shares of the company through the ARKG.
5. Recursion Pharmaceuticals (RXRX): Ark Invest purchased 44,887 shares of the company through the ARKG.This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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