On Thursday, Cathie Wood-led Ark Invest made significant trades involving Palantir Technologies Inc. PLTR.

The Palantir Trade

Ark Invest’s decision to sell Palantir Technologies Inc. PLTR shares on Thursday comes amid a backdrop of competitive pressures in the AI space.

Recently, Palantir has faced challenges from Chinese startup DeepSeek, which has introduced a high-performance AI computing solution at a lower cost. This development has caused some concern among investors, leading to fluctuations in Palantir’s stock price.

Ark Invest executed a sale of 127,969 Palantir shares worth $10.4 million through its flagship ARK Innovation ETF ARKK. The stock closed at $81.22 on Thursday, January 30, marking a 1.83% increase from the previous day.

Notably, Ark has been on a Palantir share-selling spree. In early January, the firm had sold $14.93 million worth of the Alex Karp-led technology company’s shares.

Other Key Trades:

• 10X Genomics Inc. TXG – Ark Invest purchased 314,472 shares through the ARKK fund and 55,354 shares via the ARKG fund.
• Roblox Corp. RBLX – Sold 33,404 shares from the ARKK fund.
• Archer Aviation Inc. ACHR – Sold 57,238 shares from the ARKK fund.
• Qualcomm Inc. QCOM – Acquired 8,304 shares through the ARKW fund.

Photo courtesy: Shutterstock

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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal