Cathie Wood’s ARK Invest Trims Positions in Palantir, Shopify, and Brera Holdings
Cathie Wood's ARK Invest ETFs adjusted their portfolio on October 13, reducing stakes in Palantir Technologies (PLTR), Shopify (SHOP), and Brera Holdings (SLMT). The ARK Fintech Innovation Fund sold 3,170 PLTR shares worth $556,144, signaling potential profit-taking after the stock's 134% year-to-date surge. Palantir's growth stems from its AI Platform adoption, S&P 500 inclusion, and government contracts, though analysts remain cautious about its valuation.
ARK's moves reflect strategic rebalancing amid market volatility. The sales were modest but indicative of Wood's active management style. Palantir's Hold consensus rating and $156.53 average price target suggest 11.7% downside risk, highlighting the divergence between retail enthusiasm and institutional skepticism.
