Cathie Wood’s ARK funds sell nearly $ 100 million worth of Tesla stock after earnings

Cathie Wood’s ARK Invest sold nearly $ 100 million worth of Tesla TSLA,
+ 3.23%
shares after the electric vehicle maker’s well-received first-quarter results. The flagship ARK Innovation ETF ARKK,
sold $ 70 million worth of Tesla stock. Tesla is still the top holding of the ARK Innovation ETF, representing some 10% of the portfolio, and it’s also the top holding of both the ARK Next Generation Internet ETF ARKW,
and the ARK Autonomous Technology & Robotics ETF ARKQ,
Meanwhile, multiple ARK funds boosted their holdings in Shopify SHOP,
by $ 34 million, which slumped 8% after a report it may buy Deliverr, and the Innovation ETF bought $ 21 million of shares in Roku ROKU,
which has struggled in the wake of Netflix’s disappointing subscriber numbers.


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