Cathie Wood Sells More Than $30 Million in Tesla Stock, Adds to Positions in Meta and Amazon

October 30, “Wood sister” Cathie Wood (Cathie Wood) recently continued to sell Tesla shares, while adding positions in Amazon and Meta. the latest data released by Wood's Ark Investment Management (ARK Investment Management) shows that its ARK Innovation ETF (ARKK) and Ark Next Generation Internet (ARKW) ETF funds sold 120,141 shares of Tesla stock worth $31.54 million on October 28, local time. Notably, Ark Investments had already sold 85,456 shares of Tesla stock worth about $22.22 million last Thursday. Wood chose to sell Tesla shares at this point in time, mainly because Tesla recently reported third-quarter earnings that exceeded expectations, causing the company's stock price to soar. Nonetheless, Tesla remains the top holding in both Ark Investments ETF portfolios.The ARKK and ARKW ETFs purchased an additional 141,504 shares of Amazon stock, totaling $26.66 million in value. Wood has continued to hoard Amazon stock over the past few trading sessions in anticipation of a strong third-quarter earnings report from Amazon. (Global Markets Podcast)