Cathie Wood Keeps Dumping Palantir Stock. Should You?

Cathie Wood’s Ark Invest is continuing its selling spree in Palantir Technologies (PLTR). Last week, the closely watched fund manager offloaded another more than $47 million worth of PLTR stock as part of a broader portfolio reshuffling. Wood is redirecting capital into other tech names like Shopify (SHOP), Advanced Micro Devices (AMD), and Amazon (AMZN). 

Wood’s decision to trim her position in the data analytics firm raises questions about Palantir’s steep valuation. With market capitalization of $283 billion, Palantir provides sophisticated software platforms to intelligence agencies and corporations. In the last 12 months, PLTR stock has surged over 350%, crushing the broader market by a wide margin.