On Thursday, Cathie Wood-led Ark Invest made significant trades, with Palantir Technologies Inc. (NYSE:PLTR), Tesla Inc. (NASDAQ:TSLA), Reddit Inc. (NYSE:RDDT), and Amazon.com, Inc (NASDAQ:AMZN) taking center stage.

The Palantir Trade

Ark Invest's move to sell Palantir shares comes amid a tumultuous day for the company. Palantir's shares experienced a rollercoaster ride, initially dipping due to a downgrade from Jefferies, only to bounce back following an announced partnership with Amazon Web Services (AWS) and Anthropic.

Despite Jefferies analyst Brent Thill downgrading Palantir from a Hold rating to an Underperform rating due to valuation...