Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Shivdeep Dhaliwal

Cathie Wood Sells Another $2.4M In Palantir And $7.8M In This Social Media Company On Wednesday

Cathie Wood’s Ark Investment Management sold 228,594 shares of Palantir Technologies Inc (NYSE:PLTR), worth nearly $2.4 million, on Wednesday.

Shares of the Peter Thiel-founded technology company slipped 2.8% to $10.14 in the after-hours session after closing 0.5% at $10.43 in regular trading on Wednesday.

With the latest sale of shares, Ark’s ownership of Palantir has effectively come down to nil. 

See Also: How To Buy Palantir (PLTR) Shares

On Tuesday, Wood had dumped $123 million worth of Palantir shares, while on Feb. 18 she had jettisoned another $148.9 million worth of stock.

Palantir missed earnings estimates earlier in February for the fourth quarter. 

Ark also sold 237,143 shares of Twitter Inc (NYSE:TWTR) worth $7.8 million. Twitter shares closed 0.5% lower at $32.76 in Tuesday’s regular trading and fell 1.1% to $32.41 in the after-hours session.

With the sale, the total market value of Ark’s Twitter shares across funds is now nearly $75.9 million.

On Tuesday, Twitter said it is looking to raise $1 billion through the sale of $1 billion senior notes due 2030 in a private institutional placement. The proceeds will be utilized for general corporate purposes.

The company’s board also approved a $4 billion share repurchase program earlier in February as it announced its fourth-quarter results.

Read Next: Here Are Some Safety Tips For Using Twitter In Ukraine Amid Russian Military Action

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.