Cathie Wood’s ARK funds sold Tesla TSLA, +0.63% to increase their stake in Zoom Video Communications ZM, +0.80% after the poorly received results by the video communications company. In the flagship Ark Innovation ETF ARKK, +1.71%, the fund sold $136 million of Tesla shares while buying $112 million of Zoom. In the ARK Next Generation Internet ETF ARKW, +1.62%, the fund sold $23 million of Tesla to buy $22 million of Zoom.
This article was originally published by Marketwatch.com. Read the original article here.