Cathie Wood Sells Tesla Stock As Chinese Rivals Gain Ground — Ark Dumps Palantir Amid Privacy Concerns

Shivdeep Dhaliwal

June 02, 2025

On Monday, Cathie Wood-led Ark Invest made significant trades, notably offloading shares of Tesla Inc. (NASDAQ:TSLA) and Palantir Technologies Inc. (NASDAQ:PLTR).

The Tesla Trade: Ark Invest sold 1,594 shares of the Elon Musk-led company. For the day, Tesla shares closed at $342.69, making the trade, carried out through the ARK Innovation ETF (BATS:ARKK), worth $546,247.

This move comes as Tesla faces stiff competition from Chinese electric vehicle rivals, which reported strong delivery numbers for May. Tesla’s competitors, including BYD, Li Auto, Nio, and Xpeng, saw sales growth in China last month, putting pressure on Tesla’s market position.

The PLTR Trade: Ark Invest also offloaded 17,467 shares of Palantir Technologies. This decision comes amidst concerns over privacy and potential misuse of personal data. As reported by Benzinga, the Trump administration has been discreetly working with Palantir to gather personal data of American citizens from various federal agencies. Despite these concerns, former hedge fund manager Martin Shkreli expressed bullish views on Palantir but cautioned investors about the stock's inherent volatility in an interview.

The Ark trade was made through ARKK. On Tuesday, Palantir stock closed at $132.04. The sale of shares was worth $2.31 million.

Other Key Trades:

Ark Invest purchased 25,447 shares of eToro Group Ltd. (ETOR).
Ark Invest bought 51,903 shares of Illumina Inc. (ILMN).
Ark Invest sold 278,792 shares of Adaptive Biotechnologies Corp. (ADPT).
Ark Invest bought 335,140 shares of 10X Genomics Inc. (TXG) through multiple ETFs.
Ark Invest sold 55,419 shares of Roblox Corp. (RBLX).

Benzinga's Edge Stock Rankings indicate that Tesla scores high on Momentum, Growth, Quality And Value. Find out how Palantir compares.

Photo Courtesy: ChrisStock82 on Shutterstock.com

Read Next:

Trump Administration Shuts Down $66 Million Food Stamp Fraud And Bribery Scheme, Arrests USDA Employee And 5 Others

This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal

Recommended

"Tech Prophet" Who Predicted the iPhone Now Predicts... - Ad

The Tesla Shock Nobody Sees Coming - Ad

From Ore to Gold Bars-This Nevada Mine Is Already Producing - Ad

Popular

Wall Street Enters Its Strongest Month: These 7 Stocks Often Crush It

November is historically Wall Street's strongest month. These 7 stocks often delivered standout gains in recent decades.

2026 COLA Increase: Social Security Benefits To Rise By 2.8% In 2026, Here's How Much More You Will Get Every Month

The Social Security Administration announced a 2.8% COLA increase for 2026, affecting 75 million Americans.

Central Banks Are Buying More Gold Than Ever-And This U.S. Miner Is Ready to Oblige

Central Banks Are Buying More Gold Than Ever-And This U.S. Miner Is Ready to Oblige - Ad

Central banks are rapidly increasing their gold reserves-now nearly 20% of global assets. With rising demand and geopolitical pressure, U.S. gold supply is becoming more strategic than ever.

Layoffs are piling up, raising worker anxiety. Here are some companies that have cut jobs recently

NEW YORK (AP) — It’s a tough time for the .

IRS Direct File won't be available next year. Here's what that means for taxpayers

WASHINGTON (AP) — IRS Direct File, the electronic system for filing tax returns for free, will not be offered next year, the Trump administration has confirmed.

Gold Alert: Extraordinary Upside in One Stock (Not a Miner)

Gold Alert: Extraordinary Upside in One Stock (Not a Miner) - Ad

Gold has hit all-time highs, breaking $4,000 an ounce - but history shows it could be on the verge of its biggest bull run in over half a century... triggered by a likely major event, eerily similar to what happened in the 1970s. (It's NOT inflation or anything you're likely expecting.) Now, a top analyst says you can capture ALL of the upside without touching a risky miner or a boring exchange-traded fund. He sees extraordinary potential gains long term with very little risk.

Cathie Wood Bets Big On Jack Dorsey's Bitcoin-Heavy Block, Adds Amazon And Alibaba — Sells Shopify, Surging Palantir

On Monday, Cathie Wood-led Ark Invest executed significant trades, including a notable purchase of shares in Amazon.com Inc. (NASDAQ:AMZN), Block Inc.

Warren Buffett Opens Up About The Biggest Investing Blunders Of His Career — Here They Are

Over the decades, the "Oracle of Omaha" has shared candid reflections on his biggest blunders, from emotional decisions to missed opportunities, all of which provide timeless investing insights.

The $43B Big Pharma Story is Starting Over-With a New Player

The $43B Big Pharma Story is Starting Over-With a New Player - Ad

Big Pharma once paid $43B for a small biotech with a similar platform. Now, a new company is following that same playbook, leveraging its patented delivery technology to attract partnerships and near-term revenue potential.

China May Have Made A Breakthrough With Solid State Batteries Offering 600-Mile+ Range, Here's What You Should Know

Chinese researchers' share breakthrough in EV battery technology with solid-state batteries offering 600+ mile range and weighing 220 lbs.

Elon Musk's SpaceX Shakes Up Bitcoin Market With $133 Million Transfer

SpaceX, the space exploration company led by Elon Musk, has reportedly transferred over $133 million in Bitcoin (CRYPTO: BTC), causing a stir in the cryptocurrency market.

Is Big Pharma's Next Target Already in Play?

Is Big Pharma's Next Target Already in Play? - Ad

A small biotech may have cracked one of medicine's biggest problems-how to deliver cancer drugs safely and effectively. With patented technology and promising early data, it's already catching the attention of Big Pharma.

Bloom Energy Stock Surges Nearly 17% In Wednesday Pre-Market: What's Going On?

Shares of Bloom Energy Corp soared 18.68% in pre-market trading on Wednesday as third-quarter results surpassed analyst estimates.

Donald Trump Faces 'No Kings Day' Protests As Millions March Nationwide, GOP Stays Silent Amid Authoritarianism Claims

Millions rallied nationwide against Trump, with top lawmakers supporting protests and condemning Trump's consolidation of power.

Is Nvidia About to Trigger Another 150X Opportunity?

Is Nvidia About to Trigger Another 150X Opportunity? - Ad

Nvidia gave investors a chance to make more than 150 times their money with its AI chips known as graphic processing units. Legendary investor Louis Navellier believes this new invention could be even more revolutionary and mint a new wave of millionaires.

IonQ Shares Are Trading Lower Monday: What's Going On?

IonQ shares were trading higher Monday but have since reversed and began trading lower.

Meta Lures Gen Z Talent With Six-Figure Salaries Amid Shrinking Job Opportunities — Here's How Much It's Offering

Meta is reportedly offering hefty paychecks for entry-level software engineering roles, a move seen as a response to the challenging job market for recent graduates.

A Tiny Biotech Just Posted 10× Stronger Cancer Results

A Tiny Biotech Just Posted 10× Stronger Cancer Results - Ad

Early studies show this breakthrough delivery platform would make cancer treatments safer and more powerful. Now, with Big Pharma watching closely, investors are starting to take notice of what could be the next major biotech story.

Trump Commutes Former Rep. George Santos' Seven-Year Prison Term: '... Has Been Horribly Mistreated'

President Donald Trump announced on Friday that he commuted the prison sentence of former congressman George Santos (R-N.Y.), ordering his immediate release.

Meta Deepens Clean Energy Pact With ENGIE

Meta signed a new 600MW solar PPA with ENGIE, expanding total clean energy capacity in Texas to over 1.3GW and powering U.S. data centers.

Gold Bars Are Pouring, but This Miner is Still Priced Like a Startup

Gold Bars Are Pouring, but This Miner is Still Priced Like a Startup - Ad

You'd expect a gold miner with production, a full refinery, and big-name investors to be trading at a premium. But this one? It's still under $1

Warner Bros., Ford, General Motors Are Among the Top 10 Large-Cap Gainers Last Week (Oct. 20-Oct. 24): Are the Others in Your Portfolio?

Top large-cap gainers last week include SNDK, CRS, PEGA, ISRG, GM, HAL, FIX, WBD, LVS, F on earnings, upgrades, auctions.

Instacart Powers Grubhub's Grocery Blitz Across America

Grubhub taps Instacart for nationwide grocery ordering, with Instacart fulfillment, pharmacy additions coming, and promos boosting adoption despite CART dip.

"Tech Prophet" Who Predicted the iPhone Now Predicts...

"Tech Prophet" Who Predicted the iPhone Now Predicts... - Ad

George Gilder - who predicted the iPhone 17 years early and gave Reagan the first microchip - is making his boldest call yet. He says an American nanotech "super-convergence" could mint more millionaires than any event in recent memory. He's found 3 stocks set to benefit before November 18's bombshell.

Edmunds compares the new BMW X3 and Mercedes-Benz GLC

Compact luxury crossovers are ideal if you’re seeking a compelling blend of utility and style without having to pay full-size luxury SUV pricing. The has been a front-runner since the original model’s introduction in 2003, but it continues to face stiff competition from the .

Trump White House Clamps Down on Press Access

White House restricts reporter access to West Wing Room 140; NSC cites sensitive material, echoing Pentagon curbs, raising press concerns.

The Tesla Shock Nobody Sees Coming

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as January 29.

Nvidia Termed 'Undervalued' By Masayoshi Son Last Year, Now Worth $5 Trillion: Here Is What Japanese Billionaire Investor Said About Ongoing AI Hype

SoftBank CEO Masayoshi Son's 2024 prediction that Nvidia was "undervalued" has proven accurate as Jensen Huang's chipmaking giant surpasses a $5 trillion market cap, validating Son's bold $9 trillion AI vision.

Shutdown stalemate set to drag into sixth week as Trump pushes Republicans to change Senate rules

WASHINGTON (AP) — Republicans and Democrats remained at a stalemate on the over the weekend as it headed into its sixth week, with for millions of Americans and President Donald Trump pushing GOP leaders to change Senate rules to end it.

From Ore to Gold Bars-This Nevada Mine Is Already Producing

From Ore to Gold Bars-This Nevada Mine Is Already Producing - Ad

Most juniors explore...Few actually produce. This one's already pouring gold thanks to infrastructure that would cost tens of millions to build today. With major land holdings and room to scale, it's one to watch.

ON Semiconductor, Williams Companies And 3 Stocks To Watch Heading Into Monday

Key stocks to watch include Williams Companies, Spirit AeroSystems, Goodyear Tire & Rubber, IDEXX Laboratories, and ON Semiconductor

IonQ, Tempus AI And AeroVironment Are Among Top 10 Large Cap Losers Last Week (Oct. 13-Oct. 17): Are the Others in Your Portfolio?

Top large-cap losers last week included IonQ, Tempus AI, AeroVironment, Astera Labs, Nebius, Kratos, F5, Klarna, Leonardo DRS, and First Horizon, driven by sector pullbacks, policy concerns on defense buybacks, a high-profile cyber breach, and weak earnings.

Central Banks Are Buying More Gold Than Ever-And This U.S. Miner Is Ready to Oblige

Central Banks Are Buying More Gold Than Ever-And This U.S. Miner Is Ready to Oblige - Ad

Central banks are rapidly increasing their gold reserves-now nearly 20% of global assets. With rising demand and geopolitical pressure, U.S. gold supply is becoming more strategic than ever.

Trump Says He Knows 'Very Little' About 'Huge' Crypto Industry, But Glad His Sons Are Involved

President Donald Trump expressed strong support for the cryptocurrency industry in an interview aired Sunday, stating that under his administration, the U.S. has emerged as the global leader in the sector.

Bill Ackman's Hertz Stake Is Starting To Look Like His Next Chipotle Moment

Bill Ackman's investment in Hertz may be the next Chipotle moment as the rental-car company sees a surprise profit and a 40% stock surge.

Gold Alert: Extraordinary Upside in One Stock (Not a Miner)

Gold Alert: Extraordinary Upside in One Stock (Not a Miner) - Ad

Some Head Start preschools shutter as government shutdown continues

The government shutdown is triggering a wave of closures of , leaving working parents scrambling for child care and shutting some of the nation's neediest children out of preschool.

Chamath Palihapitiya Sees Current Tech Giants Having An Upper Hand In AI Wars: 'Google Has A Huge Runway'

Chamath Palihapitiya says incumbents will win the AI race, arguing Google's "huge runway" and "massive distribution" gives it the edge.

The $43B Big Pharma Story is Starting Over-With a New Player

The $43B Big Pharma Story is Starting Over-With a New Player - Ad

CVS Health tops Q3 forecasts but absorbs hefty charge for struggling clinic business

CVS Health rode double-digit sales growth from drugstores and its pharmacy benefits management business to a better-than-expected third quarter.

Trending Now