Cathie Wood Dumps Tesla And Meta Shares, Here Is What Ark Invest Purchased Instead

On Thursday, Cathie Wood-led Ark Invest made significant trades, including selling shares of Tesla Inc. (NASDAQ:TSLA) , Meta Platforms Inc. (NASDAQ:META) , and buying ARK 21Shares Bitcoin ETF (BATS:ARKB). These moves come amid evolving market conditions and strategic shifts in the tech and crypto sectors.

The Tesla Trade

ARK Next Generation Internet ETF (BATS:ARKW) fund sold 7,478 shares of Tesla. on Thursday. The sale comes as Tesla’s stock closed at $454.53, marking a 1.74% increase. This transaction is valued at approximately $3.4 million.

Despite recent gains, the Elon Musk-led company has underperformed compared to major indices like the S&P 500 and the NASDAQ 100, as noted by investor Gary Black. Black highlighted Tesla’s advancements in autonomous driving as a potential catalyst for future growth, particularly in the Robotaxi sector.

Despite the sale, Tesla remains Ark’s top holding, with Wood’s stake valued at $949.82 million, representing 12.36% of the portfolio by weight.

The Meta Trade

Ark Invest reduced its holdings in Meta Platforms by selling 11,056 shares through the ARK Innovation ETF (BATS:ARKK) and 3,155 shares through the ARKW ETF. Meta’s stock closed at $661.53, up 3.43%, resulting in a total sale value of approximately $2.08 million.

This transaction follows reports that Meta is planning significant budget cuts for its metaverse division, which had been a major focus under CEO Mark Zuckerberg. Meta's stock rose after reports said the company planned steep 2026 budget cuts to its metaverse division, including reductions of up to 30% and possible layoffs as early as January. Executives were asked to find 10% cuts companywide, but the metaverse group faced deeper trims amid weak adoption and heavy losses exceeding $70 billion since 2021. Most cuts were expected to hit virtual reality and Horizon Worlds as Meta shifted its focus toward AI and related hardware. The company also bolstered its design and AI efforts by hiring longtime Apple executive Alan Dye.

The ARK 21Shares Bitcoin ETF Trade

ARK Blockchain & Fintech Innovation ETF (BATS:ARKF) and ARKW funds acquired a total of 52,200 shares of ARK 21Shares Bitcoin ETF. With the ETF closing at $30.73, this purchase is valued at around $1.6 million.

This move aligns with Ark’s continued interest in the cryptocurrency sector, even as Bitcoin (CRYPTO: BTC) experiences volatility. Recent market dynamics have seen Bitcoin’s price fluctuate significantly, impacting related assets. Notably, on Monday, Ark had purchased ARKB shares worth nearly $2 million.

BTC was seen trading 0.94% lower at $92,538.95 over the past 24 hours, while Ethereum (CRYPTO: ETH), the second-largest cryptocurrency by market cap, slipped 1.36% to $3,164.61 in the same period.

Other Key Trades

Purchased 158,981 shares of Trade Desk Inc. through ARKK and 45,373 shares through ARKW.
Sold 176,353 shares of Iridium Communications Inc. through ARKK, 42,971 shares through ARKQ and 12,071 shares via ARKX.
Bought 28,409 shares of Pure Storage Inc. through ARKW.
Purchased 42,377 shares of WeRide Inc. through ARKQ.