Finance

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

Cathie Wooden’s ARK Make investments bought practically $100 million value of Tesla
TSLA,
+3.23%
shares after the electrical automobile maker’s well-received first-quarter outcomes. The flagship ARK Innovation ETF
ARKK,
-4.97%
bought $70 million value of Tesla inventory. Tesla continues to be the highest holding of the ARK Innovation ETF, representing some 10% of the portfolio, and it is also the highest holding of each the ARK Subsequent Era Web ETF
ARKW,
-4.44%
and the ARK Autonomous Know-how & Robotics ETF
ARKQ,
-3.20%.
In the meantime, a number of ARK funds boosted their holdings in Shopify
SHOP,
-8.38%
by $34 million, which slumped 8% after a report it might purchase Deliverr, and the Innovation ETF purchased $21 million of shares in Roku
ROKU,
-9.14%,
which has struggled within the wake of Netflix’s disappointing subscriber numbers.

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