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Benzinga
Benzinga
Business
Rachit Vats

Cathie Wood Dumps $56M In Palantir Shares After Dismal Earnings

Palantir Cathie Wood Ark Invest NYSE Ark Investment Management Palantir Technologies Palantir Technologies Inc Peter Thiel

Cathie Wood-led Ark Investment Management on Thursday significantly lowered its exposure to Palantir Technologies Inc (NYSE:PLTR) on the day shares of the Peter Thiel-backed company plummeted after it reported worse-than-expected quarterly earnings.

The popular investment management firm sold 4.77 million shares — estimated to be worth $56.2 million based on Thursday’s closing — in the big data company. 

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