Investing
Cathie Wood's ARK Invest Dumps $90 Million Worth of Tesla Stock
January 14, 2022 7:35 am
A couple of ARK Invest exchange-traded funds run by ETF star Cathie Wood made huge sales on Thursday. Specifically, these ETFs sold roughly $90 million worth of Tesla Inc. (NASDAQ: TSLA) altogether, as the prices of these funds were down over 5% on the day. Note that these funds are mostly down over the past year.
ARK Innovation ETF (NYSEARCA: ARKK) sold 71,638 shares of Tesla, and ARK Next Generation Internet ETF (NYSEARCA: ARKW) parted with 16,118 shares. At Thursday’s closing price, this would have valued the sales at roughly $90.5 million altogether. Even though this is a small fraction of their total holdings, every little bit counts. The innovation fund was down 44% in the past year, and the internet fund is down about 34%.
Check out all the ARK Invest sales for Thursday as well:
| Fund | Ticker | Name | Shares |
|---|---|---|---|
| ARKF | SNAP | SNAP | 70,462 |
| ARKG | EVGN | EVOGENE | 2,900 |
| ARKG | AQB | AQUABOUNTY TECHNOLOGIES | 14,575 |
| ARKG | VRTX | VERTEX PHARMACEUTICALS | 38,821 |
| ARKK | TSLA | TESLA | 71,638 |
| ARKK | IRDM | IRIDIUM COMMUNICATIONS | 45,700 |
| ARKK | EDIT | EDITAS MEDICINE | 26,523 |
| ARKQ | TER | TERADYNE | 8,176 |
| ARKW | SNAP | SNAP | 34,881 |
| ARKW | TSLA | TESLA | 16,118 |
Catherine Wood, the CEO and CIO of ARK Investment Management, is a minority and nonvoting shareholder of 24/7 Wall St., owner of 247wallst.com.
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