Cathie Wood's Biggest Buy Last Week Was SpaceX. She Sold Almost Exactly That Much Palantir the Same Day.
Two trades of nearly identical size, on the same day, in opposite directions. The pairing says a lot about how she ranks two of the market's most-owned growth names.
Overview
Cathie Wood's ARK Investment Management bought 205,031 shares of SpaceX (NASDAQ:SPCX) on Friday, a purchase worth about $27.5 million spread across four of its funds, according to ARK's daily trade disclosures. It was the firm's largest disclosed buy of last week.
The same day's file shows the opposite trade. ARK sold 156,110 shares of Palantir Technologies (NASDAQ:PLTR) for about $27.2 million -- its third sale of the artificial intelligence (AI) software specialist in five days.
Details
Of course, ARK reports trades, not reasoning, and its disclosures say nothing about whether one trade funded the other. What they document is the pairing itself: about $27 million in and about $27 million out, on the same day.
Source
Originally published at www.fool.com.