Cathie Wood-led Ark Investment Management on Thursday significantly lowered its exposure to Palantir Technologies Inc (NYSE: PLTR) on the day shares of the Peter Thiel-backed company plummeted after it reported worse-than-expected quarterly earnings. The popular investment management firm sold 4.77 million shares — estimated to be worth $56.2 million based on Thursday's closing — in the big data company.
Cathie Wood Dumps $56M In Palantir Shares After Dismal Earnings