A person named Cathie Wood works for Ark Invest.
Photo by Patrick T. Fallon.
Some notable stocks have been bought and sold in the new year by the Ark Invest exchange-traded funds.
The star stock-picker dumped more of the electric-vehicle maker's stock after it posted a record fourth-quarter delivery. At the start of Monday trading, the investment firm sold 39,262 shares worth about $45 million from two of Ark's ETFs, according to her trading newsletter.
Wood's firm made millions of dollars from the stock of the electric car company. The EV maker is still the biggest bet in three of the firm's funds.
Wood had previously predicted that the price ofTesla shares could hit $3,000 by the year 2025. The stock fell 4.5% to $1,145.75 per share in New York on Tuesday. The stock has increased in the last year.
Teladoc shares have plummeted in the last year, and Ark Invest ETFs have invested in them. A newsletter shows that the firm bought nearly 80,000 shares of the company on January 3. A representative from Ark Invest did not reply to the request for comment.
Ark's bet on Teladoc, along with another, hit the firm's performance the most. In a December post, Wood said that tech stocks in Ark's portfolio, like Teladoc, are in deep value territory.
Ark has bought up shares of the company founded by Peter Thiel. Ark bought 442,456 shares for $8.2 million, based on Monday's opening price.
Ark bought 345,771 shares of commission-free trading app Robinhood in the new year, and sold 358,577 shares of social media company Twitter.
Wood's flagship fund returned 150% in 2020 and had $17 billion in assets under management. The fund has lost 27% in the past year.
Business Insider has an original article.
