Cathie Wood's Ark Invest Continues To Sell Palantir â€” Offloads $6.4M Worth Of Shares, Loads Up On Coinbase Stock Amid Bitcoin Rebound

Cathie Wood's Ark Invest Continues To Sell Palantir — Offloads $6.4M Worth Of Shares, Loads Up On Coinbase Stock Amid Bitcoin Rebound

Benzinga Neuro

September 11, 2024

On Wednesday, the Cathie Wood-led Ark Invest made some significant trades, with Coinbase Global Inc (NASDAQ:COIN) and Palantir Technologies Inc (NYSE:PLTR) being the most prominent.

The Coinbase Trade: Ark Invest purchased a total of 53,708 shares of Coinbase through its Ark Fintech Innovation ETF (NYSE:ARKF), ARK Next Generation Internet ETF (NYSE:ARKW), and ARK Innovation ETF (NYSE:ARKK). Based on the closing price of COIN at $157.15 on the same day, the value of the trade is approximately $8.4 million. This move comes after Coinbase’s partial victory against the U.S. Securities and Exchange Commission (SEC), potentially gaining access to critical documents regarding the agency's classification of tokens as securities.

On Wednesday, Bitcoin (CRYPTO: BTC) initially dropped below $56,000 after higher-than-expected inflation data, which reduced hopes for a 50-basis-point rate cut at the upcoming FOMC meeting. However, it quickly rebounded, nearing $58,000 by market close. Despite the recovery, Bitcoin remained down 0.47% for the week and 1.89% since the start of September.

The PLTR Trade: Ark Invest sold a total of 184,051 shares of Palantir through its ARKK ETF, representing 0.1179% of the ETF. Based on the closing price of PLTR at $34.85 on the same day, the value of the trade is approximately $6.4 million. This decision to sell comes despite Palantir’s recent inclusion in the S&P 500 index, which according to Bank of America, is a “watershed moment” that could attract more institutional investors.

See Also: Tesla Stock Races Higher In Premarket: What’s Going On?

Other Key Trades:

Ark Invest bought shares of Personalis Inc (PSNL) through its ARKG ETF.
Ark Invest sold shares of Vertex Pharmaceuticals Inc (VRTX) through its ARKG ETF.
Ark Invest bought shares of Guardant Health Inc (GH) through its ARKG ETF. Ark Invest sold shares of Exact Sciences Corp (EXAS) through its ARKG ETF.

Read Next:

How To Earn $500 A Month From Nvidia Stock

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

Recommended

Man Who Predicted Trump Win Issues Shocking New Election Prediction - Ad

What If Kamala Wins? The 3 Words That Will Change Everything - Ad

Exposed: Democrats' Secret Plan to Keep Trump Out of the White House - Ad

Movies about Kamala Harris and Donald Trump hit theaters in October. Find out the differences between the movie and why one candidate wants a ban.

Scaramucci Says Melania Trump Would Prefer Kamala Harris To Donald Trump As President

Anthony Scaramucci has claimed that Melania Trump would rather see Kamala Harris win the presidency than her own husband.

The "Amazon Coin" -- To Be Bigger Than Bitcoin?

The "Amazon Coin" -- To Be Bigger Than Bitcoin? - Ad

Starting September 23rd, this tiny 3-cent crypto could partner with one of the biggest companies in the world... Amazon. Declassified video reveals "Amazon Coin" ahead of $27 trillion crypto revolution. One team of crypto experts have identified it as the most promising crypto of 2024.

Mother Sells Taylor Swift Tickets Over Star's Endorsement Of Kamala Harris: 'I'm Gonna Shake It Off, And I'm Done With You'

A mother has chosen to sell the Taylor Swift concert tickets she had bought as a birthday present for her daughter in response to the pop star's recent endorsement of Kamala Harris.

Psychedelic Church Opens In Colorado Springs, CO Making History

Meet Colorado's first psychedelic church in Colorado Springs, where magic mushrooms and DMT are used for healing and creating community.

Seven Unknown AI Stocks That Could Dominate the Next Six Years

Seven Unknown AI Stocks That Could Dominate the Next Six Years - Ad

The original "Magnificent Seven" stocks generated 16,800% over the last 20 years. But now a new set of AI stocks is set to take over. Alex Green dubs them "The Next Magnificent Seven." And he's arguing that just $1,000 in each could turn into more than $1 million in less than six years.

Investigators say dispatching errors led to Union Pacific train crash that killed 2 workers

OMAHA, Neb. (AP) — Dispatching errors combined with the failure of two backup systems allowed a Union Pacific train to that had been parked on a side track for nine months in Southern California two years ago, killing an engineer and a conductor, according to a report issued Thursday.

Campbell wants to say goodbye to the 'soup' in its name. It isn't the first to make such a change

NEW YORK (AP) — Campbell is ready to drop the soup — at least from its official name.

New "Living Missile" to Replace Nuclear Missiles

New "Living Missile" to Replace Nuclear Missiles - Ad

CBS News Reports: "It's an entirely new type of weapon." The New York Times Reports: "No existing defense can stop it." And one small company is building them for the Pentagon!

Donald Trump's Billions On Hold As Insiders Sell Off Truth Social Shares

Insiders at Trump Media & Technology Group owned social media platform Truth Social have started offloading their shares.

Scaramucci: Trump Wins Billionaires' Support Despite Coming Off As 'Raging Lunatic,' Harris Backs A 'Ridiculously Stupid Idea'

Trump is someone who can't keep to his messaging and his rival Kamala Harris can gain an upper hand by going on offensive, says Scaramucci.

Do Not Day Trade (Do This Instead)

Do Not Day Trade (Do This Instead) - Ad

Forget day trading (especially in markets like these). Trade OVERNIGHT instead! I've uncovered a shocking way to take 100% certain events (mandated by the U.S. Government)...And target OVERNIGHT payouts like: 253%... 327%... Even 383%! Enough to potentially hand you profits of $25,300... $32,700... heck even $38,300!

SEC Charges Galois Capital With Custody Rule Violations, Misleading Investors

SEC charges Florida-based firm Galois Capital for violating the Custody Rule and misleading investors about crypto assets.

Apple Reportedly Plans To Switch To OLED For All iPhones Starting 2025, Not Just The Top-Tier Flagships

Apple plans to transition all iPhone models, including the lower-priced iPhone SE, to OLED displays by 2025, phasing out LCDs and excluding Japanese suppliers like Japan Display and Sharp from its handset business.

4 Cryptos Set to Outperform Bitcoin in 2024

4 Cryptos Set to Outperform Bitcoin in 2024 - Ad

Chris Rowe, the man who spotted 44 different coins that have returned over 100%, is now making the biggest crypto call of his ENTIRE career.... Because a powerful crypto event will trigger on June 24th... Sending hundreds of tiny cryptos soaring 5X, 50X, even 100X -- in just days.

Young girls are using anti-aging products they see on social media. The harm is more than skin deep

SACRAMENTO, Calif. (AP) — When she was in fifth grade, Scarlett Goddard Strahan started to worry about getting wrinkles.

Trump Vs. Harris: 2024 Election Betting Odds Show 'Love Story' For Vice President After Debate, Taylor Swift Endorsement

The presidential debate between Vice President Kamala Harris and Ex-President Donald Trump shifted the betting odds for the winner on Election Day. Here’s a look at who has the edge and how the markets have shifted in recent months.

September 23 - The Biggest Crypto Event in History

September 23 - The Biggest Crypto Event in History - Ad

According to the man who called every major market top and bottom for the last 29 years... A single event triggering on September 23rd will send the crypto market soaring. But what's more exciting... is that this event could send a small sector of the crypto market soaring 5X, 25X, and even 100X higher in just days.

Social media is filled with skin care routines for girls. Here's what dermatologists recommend

Girls are with advice from influencers touting elaborate skin care routines with high-priced serums, mists and creams. But what is the right skin care routine for preteens?

Former Deputy Claims Harris Helped Close Backpage, Fallout Affects Sex Workers

In the midst of the 2024 presidential campaign, Kamala Harris finds herself under the microscope for her involvement in the closure of Backpage.com, a well-known online platform for adult services, during her time as the Attorney General of California.

Oil Surge Predicted...But Are You Ready?

Oil Surge Predicted...But Are You Ready? - Ad

Do you own oil and gas stocks? Or are you thinking about buying some? If so, you need to see my #1 oil play for 2024. But it's NOT oil stocks, futures, or anything you've likely heard about. Rather, it's an unusual way to potentially bank monthly income from the oil and gas markets.

Trump plans to launch his sons' crypto business on Monday, 50 days before Election Day

WASHINGTON (AP) — Former President Donald Trump plans to deliver remarks next Monday about cryptocurrency and the launch of the company , a crypto platform controlled by the Republican nominee's sons Donald Jr. and Eric.

GameStop Shares Are Trading Higher: This Week In Review

GameStop Corporation (NYSE: GME) shares are up Friday. Here's what you need to know.

This Is How the AI Bull Market Ends

This Is How the AI Bull Market Ends - Ad

The AI bull market as we know it right now will end...And all the big popular AI stocks investors are piling into right now will NOT be the where the biggest returns will come from. And for investors who don't know how the market is changing and where it's going...They could end up left behind.

Kentucky's Massive Cannabis Licensing Response: 5,000 Applications Filed Before Deadline

Nearly 5,000 medical cannabis license applications were filed in Kentucky by the August deadline, showing immense interest.

France's Macron to visit Serbia with a possible deal to sell French warplanes in a shift from Russia

BELGRADE, Serbia (AP) — French President Emmanuel Macron starts a two-day state visit to Serbia on Thursday with the focus on the possible sale of 12 Rafale multi-purpose fighter jets to the country, which has maintained close ties to Russia despite its invasion of Ukraine.

Seven Unknown AI Stocks That Could Dominate the Next Six Years

Seven Unknown AI Stocks That Could Dominate the Next Six Years - Ad

Stellantis recalls 1.5M Ram trucks to fix software bug that can disable stability control

DETROIT (AP) — Stellantis is recalling nearly 1.5 million Ram pickup trucks worldwide to fix a software problem that can disable the electronic stability control system.

US Steel CEO David Burritt Blasted By United Steelworkers President After $15B Deal With Nippon Steel Comes Under Biden Administration Scrutiny: 'Get A Decent CEO'

David McCall, President of United Steelworkers met Nippon Steel's Executive Vice President Takahiro Mori this summer to describe the union's demands, particularly ensuring that the Japanese steelmaker's parent sign the deal

Buffett's Big A.I. Secret (Handle With Care)

Buffett's Big A.I. Secret (Handle With Care) - Ad

A.I. is the talk of the town...But here's what they're NOT telling you. Former investment banking V.P. Ross Givens is letting the cat out of the bag. He's leaking a revolutionary new development, which changes everything. It will kick off A.I.'s massive second wave.

California governor signs laws to protect actors against unauthorized use of AI

SACRAMENTO, Calif. (AP) — California Gov. Gavin Newsom signed off Tuesday on legislation aiming at protecting Hollywood actors and performers against unauthorized artificial intelligence that could be used to create digital clones of themselves without their consent.

Wall Street Could Head Higher As Traders Look Forward To Retail Sales Data Ahead Of Fed Decision, Tech Stocks On The Mend: Strategist Flags This As Best-Case Scenario For Market This Week

U.S. stocks are priming for a positive start on Tuesday ahead of the release of the key August retail sales report. Traders could throng the tech space as they seek to take advantage of the recent pullback.

America Can't Afford a Harris Presidency

America Can't Afford a Harris Presidency - Ad

New research from Jim Rickards - former advisor to the CIA - reveals shocking predictions about an "Election Meltdown" coming this November. Jim's showing all American patriots why an "Election Meltdown" could crash stocks by 50%, lead to the final demise of the dollar, even cause violent riots in the streets.

Mark Cuban Says He Would Buy Rupert Murdoch's Fox News And Elon Musk's X But There Are Some Obstacles: 'If I Had Enoughâ€¦ I'd Buy It In A Heartbeat'

Mark Cuban has expressed interest in acquiring both Fox News and Elon Musk's X, but he acknowledges financial limitations for Fox News and doubts Musk would sell his social media platform.

Average long-term US mortgage rates holds at 6.35% this week ahead of expected Fed rate cut

The average rate on a 30-year mortgage in the U.S. was flat this week ahead of an expected interest rate cut from the Federal Reserve later this month.

The No. 1 AI Stock of 2024 (Not Nvidia)

The No. 1 AI Stock of 2024 (Not Nvidia) - Ad

It's not Nvidia, Meta Platforms, Alphabet, or Amazon. But thanks to a recent major deal, an under-the-radar stock could become the No. 1 winner of the AI boom. "This company just teamed up with one of the biggest power players in the AI industry... yet you can still buy it for just one-twelfth the price of Nvidia -- the time to buy is NOW," says Marc Chaikin.

Peter Schiff Highlights Bitcoin's Underwhelming Performance Against Gold In The Past 6 Months: 'The Momentum Has Flipped'

Renowned economist Peter Schiff recently pointed out a significant divergence in the performance of Bitcoin (CRYPTO: BTC) and gold over the past six months, a trend he believes is largely overlooked.

US economic growth for last quarter is revised up to a solid 3% annual rate

WASHINGTON (AP) — The U.S. economy grew last quarter at a healthy 3% annual pace, fueled by strong consumer spending and business investment, the government said Thursday in an upgrade of its initial assessment.

Don't Buy Another Stock Until You See This

Don't Buy Another Stock Until You See This - Ad

We face a widespread collapse unlike anything we've seen in our lifetimes. By taking 4 simple steps today you can stay safe from the coming catastrophe. Which is why I want to rush you my new book "Midnight in America" FOR FREE.

Elon Musk-Backed California AI Safety Bill SB 1047 Has 57% Chance Of Being Signed By Gavin Newsom, Polymarket Shows

Prediction market Polymarket shows 57% chance of California passing AI safety bill SB 1047, sparking debate among tech leaders and upcoming discussion at Benzinga event.

Trending Now

Trump Vs. Harris: Election Forecaster With 9 Out Of 10 Accurate Predictions Makes Final Call, Says This Person Will Be 'Next President Of The United States'

Cathie Wood's Ark Invest Continues To Sell Palantir — Offloads $6.4M Worth Of Shares, Loads Up On Coinbase Stock Amid Bitcoin Rebound

Man Who Predicted Trump Win Issues Shocking New Election Prediction - Ad

What If Kamala Wins? The 3 Words That Will Change Everything - Ad

Exposed: Democrats' Secret Plan to Keep Trump Out of the White House - Ad

The "Amazon Coin" -- To Be Bigger Than Bitcoin? - Ad

Seven Unknown AI Stocks That Could Dominate the Next Six Years - Ad

New "Living Missile" to Replace Nuclear Missiles - Ad

Do Not Day Trade (Do This Instead) - Ad

4 Cryptos Set to Outperform Bitcoin in 2024 - Ad

September 23 - The Biggest Crypto Event in History - Ad

Oil Surge Predicted...But Are You Ready? - Ad

This Is How the AI Bull Market Ends - Ad

Seven Unknown AI Stocks That Could Dominate the Next Six Years - Ad

Buffett's Big A.I. Secret (Handle With Care) - Ad

America Can't Afford a Harris Presidency - Ad

The No. 1 AI Stock of 2024 (Not Nvidia) - Ad

Don't Buy Another Stock Until You See This - Ad

4 Steps to Survive the Coming Market Crash - Ad

Man Who Called Nvidia at $1.10 Says Buy This Now... - Ad

Forget AI, Imperium Is Expected to Grow 320,000% In 3 Years - Ad

President Trump and Elon Musk Issue Stark Warning - Ad

The Last Time Gold Flashed This Warning Sign, the Market Dropped 80% - Ad

Elon Musk: Without This Company, "Civilization Will Crumble" - Ad

Discover the $2 Stock That Has Institutional Attention - Ad

Could You Retire on a Single AI Stock (Trading for Only $15)? - Ad

America's Slow Decline into Hell - Ad

Kamala Harris May Seize This Cutting-Edge Tech -- Act Now - Ad

Analysts Are Projecting "Safe-Haven" Stock Will Nearly Double - Ad

Oil = Monthly Income - Ad

Why We Just Sold Half of Our Stocks - Ad

Red-Hot AI Stock "Disappearing" Soon? (Get In Now) - Ad

My TOP Altcoin for Right Now Is... - Ad

A 10,000% Dividend?!? - Ad