Cathie Wood's Ark Invest Buys Over $25 Million in Alibaba Shares, Continues Tesla Sell-off
Deep News
6 hours ago
Cathie Wood's Ark Investment Management executed trades involving U.S.-listed Chinese stocks like Alibaba and Baidu on Tuesday while continuing to trim its Tesla holdings.
The firm purchased a total of 157,731 Alibaba ADRs across three of its ETFs—ARKF, ARKW, and ARKK. Alibaba shares closed at $160.80, down 3.07%, making the transactions worth approximately $25.36 million.
Ark also acquired 14,531 Baidu shares through its ARKK and ARQ funds. Baidu's stock closed at $131.95, dipping 0.28%, with the total purchase valued at around $1.9 million.
Meanwhile, Ark's ARKK ETF sold 789 Tesla shares during the same trading session.
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