Topline In her first Tesla sales since January, famed stock picker Cathie Wood, the CEO of investment firm Ark Invest, has offloaded a massive stake in the electric vehicle maker helmed by Elon Musk over the past week, dumping more than $200 million in shares to instead splurge on recently struggling stocks like Coinbase, Zoom and Roblox, which have plummeted as much as 50% this year. Famed stock picker Cathie Wood sold Tesla shares for the first time in more than two months over the … [+] past week, while adding to massive stakes in Coinbase, Roblox and Zoom. David Yellen/The Forbes Collection Key Facts According to Ark’s daily transaction reports, two of the firm’s funds, includings its flagship Ark Innovation ETF, sold a combined 52,335 shares of top holding Tesla on Wednesday, representing a stake worth about $57.5 million, and three funds sold about $147.5 million on Friday. The transactions follow a stunning run-up of more than 40% in Tesla prices over the past two weeks, as the broader market recovered from a geopolitically fueled selloff, and mark Ark’s first Tesla sales since mid-January; the New York City investment f… Click below to read the full story from Forbes
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Cathie Wood’s Ark Invest Sells $205 Million In Tesla Stock—Buys Crypto, Gaming And Streaming Shares
