Cathie Wood Just Dumped $97 Million in Palantir Stock. Should You Sell PLTR Too?

After surging more than 300% in 2024, Palantir (PLTR) stock has recently been quite volatile. Valued at a market capitalization of $280 billion, PLTR stock trades just 8% below its all-time highs, as investors remain concerned over its lofty multiples. 

From May 5 through May 8, Cathie Wood’s Ark Invest sold Palantir shares worth nearly $97 million, with the company reporting its first-quarter results after market close on May 5. Despite the sales, Palantir remains Ark’s third-largest holding, with Wood’s funds holding more than $560 million worth of shares.