Reported 2 days ago
Billionaire Israel Englander significantly reduced Millennium Management's stake in Palantir Technologies by 90.3%, favoring the rapidly growing electric vehicle company Nio instead, increasing his investment in it by 196.3%. Although Palantir has experienced a remarkable rise, concerns about its long-term growth potential and high valuation prompted this strategic shift. Meanwhile, Nio has been ramping up production and innovating solutions like battery swap stations, despite ongoing competition and financial losses.
Source: YAHOO