Cathie Wood Buys the Dip in CoreWeave, Sells Palantir Stock: Ark Also Trades Archer Aviation, Rocket Lab, Amazon

On Thursday, Cathie Wood-led Ark Invest purchased nearly $16 million worth of CoreWeave Inc. (NASDAQ:CRWV) shares while selling about $10 million worth of Palantir Technologies Inc. (NASDAQ:PLTR).

Ark also added to Archer Aviation Inc. (NYSE:ACHR) and Rocket Lab Corp. (NASDAQ:RKLB), while trimming Amazon.com Inc. (NASDAQ:AMZN) and BYD Co. Ltd. (OTC:BYDDY).

The CoreWeave Trade

Ark purchased 223,010 CoreWeave shares through the ARK Innovation ETF (BATS:ARKK) and another 60,012 shares through the ARK Next Generation Internet ETF (BATS:ARKW).

The combined purchase totaled 283,022 shares, valued at approximately $16 million using the supplied price of $56.60.

CoreWeave fell nearly 7% on Thursday, following Wednesday’s 24.71% rally after its quarterly results.

CEO Michael Intrator said demand was roughly 10 times the company’s remaining capacity for 2027 and several times its available capacity for 2028. He also said CoreWeave had secured approximately $9 billion in customer prepayments and deposits.

Intrator expected upcoming investment-grade financing to carry interest rates of 7% to 7.5%, although heavy spending remained a concern for investors.

The Palantir Trade

Ark sold 53,547 Palantir shares through ARKK and 4,792 shares through ARKW.

The combined sale totaled 58,339 shares, worth about $10 million at the closing price of $171.58.

The transaction followed a smaller sale of 2,107 shares on Nov. 10, valued at approximately $355,704. Earlier, on Nov. 3, Ark purchased 63,638 Palantir shares, worth approximately $11.2 million.

On Thursday, Jim Cramer praised Palantir’s third-quarter performance and CEO Alex Karp’s leadership, saying the stock was worth $200 and expressing surprise that it had not reached that level.

Palantir had reported better-than-expected quarterly results on Nov. 2 and raised its full-year revenue guidance.

The Archer Aviation Trade

Ark bought 64,042 Archer shares through ARKK, 109,643 shares through the ARK Autonomous Technology & Robotics ETF (BATS:ARKQ) and 6,876 shares through the ARK Space & Defense Innovation ETF (BATS:ARKX).

The purchases totaled 180,561 shares, valued at approximately $781,829 using the closing price of $4.33.

Ark also bought 348,176 Archer shares on Wednesday, worth approximately $1.7 million. Across the two sessions, its purchases totaled 528,737 shares, with an estimated combined value of $2.5 million.

Archer’s planned acquisition of Boeing subsidiaries Wisk Aero, Insitu and SkyGrid could add more than $200 million in annual revenue, according to Cantor Fitzgerald analyst Andres Sheppard.

Sheppard described the acquisition as transformational, maintaining Overweight while lowering his price target to $10 from $11. Management expected the transaction to close before year-end, with one of nearly 20 required approvals outstanding at the time of the report.

The Rocket Lab Trade

Ark purchased 4,705 Rocket Lab shares through ARKK, 9,398 shares through ARKQ and 1,011 shares through ARKX.

The combined purchase totaled 15,114 shares, worth approximately $968,354 using the supplied price of $64.07.

The additions followed Wednesday’s purchase of 18,086 shares, valued at approximately $1.2 million. Across the two sessions, Ark purchased 33,200 shares, with an estimated combined value of $2.2 million.

Rocket Lab shares rallied about 48% from their Nov. 5 intraday low despite price-target cuts by five Wall Street firms, as investors focused on strong third-quarter revenue growth of 73% and a record $3.57 billion backlog.

The company secured more than $515 million in Neutron launch contracts, although the rocket’s maiden flight was delayed until at least 2027. Rocket Lab also reported a $79.6 million quarterly net loss, while all five analysts maintained their existing ratings.

The Amazon Trade

Ark sold 15,941 Amazon shares through ARKK, valued at approximately $4.3 million using the closing price of $267.44.

The sale followed a 10,968-share reduction on Nov. 10, worth approximately $3 million. The two transactions totaled 26,909 shares, with an estimated combined value of $7.3 million.

Amazon shares rose more than 1% on Thursday as investors assessed the company’s growing exposure to Anthropic ahead of its anticipated IPO and preparations for the holiday shopping season.

Amazon valued its Anthropic convertible notes at $146.2 billion as of Sept. 30 and held $92.5 billion in nonvoting preferred stock. The company also announced plans to hire more than 300,000 U.S. workers to support holiday demand.

The BYD Trade

Ark sold 230,040 BYD shares through ARKQ, worth approximately $2 million using the closing price of $8.50.

The transaction followed Wednesday’s sale of 220,351 shares, valued at approximately $1.9 million. Across the two sessions, Ark sold 450,391 shares, with an estimated combined value of $3.9 million.

BYD reported a 28% increase in third-quarter net profit to $1.5 billion, although the figure missed analyst expectations. Revenue rose 13.6% to $33.21 billion, while overseas vehicle shipments more than doubled.

Other Key Trades

• Twist Bioscience Corp. (TWST): ARKG and ARKK purchased a combined 72,834 shares.
• Kratos Defense & Security Solutions Inc. (KTOS): ARKK and ARKQ bought a combined 46,521 shares.
• Scribe Therapeutics Inc. (SCTX): ARKG purchased 39,090 shares.
• Tempus AI Inc. (TEM): ARKG and ARKK sold a combined 80,989 shares.

Benzinga Edge Rankings indicate that CoreWeave stock scores unfavorably across short-, medium-, and long-term price trends.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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