Cathie Wood’s ARK funds sell nearly $100 million worth of Tesla stock after earnings

Cathie Wood’s ARK Invest sold nearly $100 million worth of Tesla shares after the electric vehicle maker’s well-received first-quarter results. The flagship ARK Innovation ETF sold $70 million worth of Tesla stock. Tesla is still the top holding of the ARK Innovation ETF, representing some 10% of the portfolio, and it’s also the top holding of both the ARK Next Generation Internet ETF and the ARK Autonomous Technology & Robotics ETF . Meanwhile, multiple ARK funds boosted their holdings in Shopify by $34 million, which slumped 8% after a report it may buy Deliverr, and the Innovation ETF bought $21 million of shares in Roku , which has struggled in the wake of Netflix’s disappointing subscriber numbers.

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