ARK Invest Buys $27M in SpaceX Shares While Selling Equivalent Amount of Palantir
Cathie Wood's ARK Investment Management made a significant purchase and sale on the same day, buying approximately $27.5 million worth of SpaceX shares while selling nearly an equal amount of Palantir Technologies stock. The trades were disclosed in daily filings from ARK’s funds. The largest buy was 205,031 shares of SpaceX at around its IPO price, with the bulk going into the flagship ARK Innovation ETF. This purchase adds to a substantial existing position worth $385 million as part of ARK's broader investment in space and AI infrastructure. Meanwhile, Palantir saw three sales over five days totaling about 156,000 shares for around $27.2 million. Despite the lack of explicit reasoning from trade disclosures, the timing suggests a strategic shift: SpaceX is near its IPO price after significant revenue growth, while Palantir trades at more than 150 times earnings despite strong financial performance.
Topics: ARK Investments Palantir Technologies SpaceX stock trading activity