Cathie Wood Watch: Ark Reverses on Tesla, Selling

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The Street

By Dan Weil Her flagship Ark Innovation ETF has dropped 43% during the past year, but has rebounded 21% so far this year. Cathie Wood, chief executive of Ark Investment Management, sold one of her favorite stocks Thursday, after buying it consistently for more than five months. Ark funds dumped 139,642 shares of electric vehicle titan Tesla (TSLA) – Get Free Report, valued at $25.4 million as of Thursday’s close. Wood is one of Tesla’s biggest evangelists and has called her previous sales of the stock profit-taking. It remains the biggest holding by far in her flagship Ark Innovation ETF (ARKK…

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