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On Friday, Cathie Wood took a few steps into technology for her Ark Invest portfolio.
Wood, Founder and CEO of ARK Investment Management, is a big name in the investment world – her company’s portfolios have generated returns of over 100%.
See also: Cathie Wood talks about innovators and disruptors.
What happened: Friday, on a volatile trading day that saw the SPDR S&P 500 ETF Trust (NASDAQ: SPY) Broken below $ 380 after hours of trading, Ark Invest was bullish and bearish on some tech names.
Ark Invest has again plunged into Palantir Technologies Inc (NYSE: PLTR), the fund adding 3,365,400 stocks to its portfolio, according to data on Benzinga Pro.
Palantir manufactures big data analysis software used by the United States government, among other customers. In 2008, Palantir released Gotham, a data analytics platform for the U.S. government’s intelligence and defense sectors.
Palantir shares jumped nearly 3% to $ 24.55 in Friday’s after-hours session after Ark released the big buy.
See also: How to buy Palantir shares
Other movements of the arch: Ark also added 497,050 shares of the social media giant Twitter Inc (NYSE: TWTR) Friday.
Shares of Twitter were trading higher after the company’s analyst day event on Thursday, in which it shared a three-year bullish forecast. On Friday, several analysts raised their price targets on the share. In addition, the action can react to a new paid feature of Super Follow.
Shares of Twitter finished major trading hours on Friday up about 3% to $ 77.06 per share, then rose to 77.25 in the after-hours session.
Meanwhile, Ark went in the opposite direction for the likes of Apple Inc (NASDAQ: AAPL) and Common shares of Facebook, Inc. (NASDAQ: FB), the fund having sold 551,131 and 71,281 shares respectively.
Stocks of several tech companies were trading lower this week with the global market as higher bond yields put pressure on growth stocks and other stocks.
Apple traded slightly up 0.22% to $ 121.26 a share on Friday and Facebook was up 1.15% to $ 257.62 a share.
Photo courtesy: Cory Doctorow via Flickr
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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