Cathie Wood's Biggest Buy Last Week Was SpaceX. She Sold Almost Exactly That Much Palantir the Same Day.
Two trades of nearly identical size, on the same day, in opposite directions. The pairing says a lot about how she ranks two of the market's most-owned growth names.
Cathie Wood's ARK Investment Management made a notable move in the market by purchasing 205,031 shares of SpaceX at $27.5 million last week, marking the largest disclosed buy of the week. The same day, ARK also sold 156,110 shares of Palantir Technologies for $27.2 million, its third such sale in five days. Notably, ARK's purchase of SpaceX shares comes as the rocket company's stock is trading near its IPO price, down about 39% from its peak.
Conversely, the sale of Palantir shares reflects a trimming approach, as the stock has grown significantly over the past year, now trading at more than 150 times earnings. Both moves highlight Wood's current valuation preferences, prioritizing SpaceX's growth potential over Palantir's already high valuation. Despite ARK's overall strong conviction in AI, this pairing suggests a relative reassessment of the two companies' market valuations.
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