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Cathie Wood sells Nvidia stock, buys more of others
On Friday, Ark Genomic Revolution ETF (ARKG) - Get Free Report unloaded 3,022 shares of the semiconductor titan Nvidia (NVDA) - Get Free Report worth $2 million as of that day’s close. Ark’s previous move with Nvidia's stock was a sale on Jan. 22. Wood has periodically sold Nvidia since last May.
On the buy side, Ark funds picked up stock of electric vehicle giant Tesla (TSLA) - Get Free Report for the seventh day in a row, snatching 114,811 shares Friday, valued at $21.6 million as of that day’s close.
Ark funds also grabbed 47,926 shares of online securities brokerage Robinhood Markets on Friday, valued at $509,000 as of that day’s close. Robinhood stock has slid 11% over the last month.
After a brief spurt following its initial public offering in July 2021, the stock has struggled and is now down 72% from the IPO.
Meanwhile, Ark funds sold 261,981 shares of video conferencing service Zoom Video Communications (ZM) - Get Free Report, valued at $16.8 million as of Wednesday’s close.
It has dropped 20% in the past 12 months but remains up 77% from its April 2019 IPO. Demand for the company’s products soared during the pandemic but has slowed since then. Zoom is the fourth biggest holding in Ark Innovation.