Cathie Wood’s ARK Funds Bought Robinhood and Exact Sciences, Sold Tesla.
Cathie Wood’s ARK has sold more of its stake in Tesla, and snapped up shares in online broker Robinhood Markets, an email update from the investment management firm showed.
ARK’s flagship fund, the ARK Innovation ETF (ARKK) ditched 56,975 shares, worth an estimated $63.5 million, in Elon Musk’s electric-vehicle giant. ARK funds sold a tranche last month worth more than $200 million. Wood had indicated in September that she would be willing to sell down her flagship fund’s stake in Tesla (ticker: TSLA), according to reports.