Cathie Wood’s Ark Invest Sold $160 Million In Tesla Stock But Splurged On Streaming Giant Roku Amid Netflix CrashAccording to
Ark’s daily transaction reports, three of the firm's funds, including its flagship Ark Innovation ETF, sold nearly
$94 million worth of Tesla.The transactions follow a 4% run-up in Tesla prices over the past two days thanks to a record
$3.3 billion profit.The high-profile trader also offloaded a massive stake in
Spotify, dumping about $74 million in shares as the stock plummeted 18% amid a broader rout for streaming stocks.
Despite selling Spotify, Ark took advantage of another streaming stock's plunge — buying
$61 million worth of Roku as shares tumbled 15%; it also bought shares of
Shopify and Zoom worth about $53 million and $34 million, respectively.
