Cathie Wood Sells $17 Million of Palantir After Earnings Rally
Updated
Updated · Yahoo Finance Australia · Aug 7
Cathie Wood Sells $17 Million of Palantir After Earnings Rally
3 articles · Updated · Yahoo Finance Australia · Aug 7
Summary
$17 million of Palantir stock was sold by Cathie Wood after the AI software company rallied following its latest earnings report, fitting Ark's pattern of trading around sharp post-results moves.
Palantir remains part of Wood's high-volatility innovation strategy, which centers on AI, blockchain, biotech and robotics and has produced big swings in Ark's flagship fund.
ARKK is down 2.75% this year through Aug. 6 while the S&P 500 has gained 12.63%; over five years, the ETF's annualized return is -9.36% versus 11.76% for the index.
Morningstar said Ark Innovation wiped out nearly $5 billion in investor wealth over the decade through 2025, ranking it the fourth-biggest wealth destroyer among mutual funds and ETFs.
Wood still argues AI is deflationary for the broader economy, saying bond markets are increasingly pricing productivity gains from technological innovation rather than persistent inflation risk.