CEO of ARK Investment Management, Cathie Wood, sold about $28 million worth of Palantir Technologies shares, according to Benzinga. The sale followed the company’s strongest-ever second-quarter earnings report. Palantir is still one of Wood’s top holdings, accounting for 5.04% of the ARK Innovation ETF, which is up 29.7% year-to-date. Wood’s investment strategy focuses on emerging high-tech sectors such as artificial intelligence, blockchain, biomedical technology, and robotics, often resulting in sharp portfolio swings. The Street reports that Wood’s sale likely reflects a profit-taking strategy at high valuations rather than a full exit.
