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Cathie Wood's Tech Rotation: Amazon Mega-Buy While Tesla, Reddit And Palantir Get Axed

Benzinga ·  Nov 7, 2024 21:25

On Thursday,Cathie Wood-ledArk Investmade significant trades, with$Palantir (PLTR.US)$,$Tesla (TSLA.US)$,  $Reddit (RDDT.US)$, and$Amazon (AMZN.US)$taking center stage.

The Palantir Trade

Ark Invest's move to sell Palantir shares comes amid a tumultuous day for the company. Palantir's shares experienced a rollercoaster ride, initially dipping due to a downgrade from Jefferies, only to bounce back following an announced partnership withAmazon Web Services(AWS) andAnthropic.

Despite Jefferies analystBrent Thill downgrading Palantir from a Hold rating to an Underperform rating due to valuation concerns, the company's stock has seen a surge of over 220% since the...

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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