Cathie Wood's Ark Nearly Erases Alibaba Stake, Sells $3M In Google — Here's What It Bought Instead On Wednesday

Cathie Wood’s Ark Invest now holds just about 700 shares in Alibaba Group Holding BABA after the money managing firm on Wednesday further reduced its exposure in the e-commerce giant.

Ark Invest sold 3,626 shares — estimated to be worth about $628,313 — in Alibaba, as its shares closed 3.77% higher at $173.28 on Wednesday.

The Ark Space Exploration & Innovation ETF ARKX sold 533 shares, Ark Autonomous Technology & Robotics ETF ARKQ shed 1,376 shares and Ark Fintech Innovation ETF ARKF sold 1,717 shares in the company. 

The popular money manager had been bullish on Alibaba until June but reduced the bulk of its exposure in Alibaba last month amid continued regulatory scrutiny of tech stocks in China. 

See Also: Alibaba, Palantir, Google, JD, Lockheed Martin, Genius Sports — Stocks Cathie Wood's Ark Bought Or Sold On Monday

Here are some of the other key trades for Ark on Wednesday:

Sold 1,043 Class C shares — estimated to be worth about $3 million — in Alphabet Inc GOOGL GOOG via ARKX.

Bought 16,089 shares — estimated to be worth about $2.34 million — in Teladoc Health Inc TDOC via ARKF. Shares of the company closed 0.87% higher at $145.68.

Bought 328,231 shares — estimated to be worth about $17.56 million — in Pfizer Inc PFE. Shares of the pharma company closed marginally lower at $46.04.