Wood Dumps Palantir Shares, Bets Big on Bitcoin-Linked Block

Cathie Wood-led Ark Invest made significant trades on Monday, including purchasing shares of Block, Inc. and Circle Internet Group.

The company sold a total of $26 million worth of Palantir Technologies shares across its ARK Blockchain & Fintech Innovation ETF, ARK Innovation ETF, and ARK Next Generation Internet ETF funds.

This move comes after Palantir's impressive second-quarter earnings report, where the AI software firm reported revenue of $1.94 billion and adjusted earnings of 41 cents per share, exceeding analyst expectations.

Ark Invest also reduced its holdings in Advanced Micro Devices Inc., selling 8,623 shares through its ARKF ETF for approximately $4.1 million.