Wood Sister sells more than $30 million worth of Tesla stock again and increases positions in Meta and Amazon

"Wood Sister" Cathie Wood recently continued to sell Tesla stocks while increasing holdings in Amazon and Meta. The latest data released by Wood's Ark Investment Management showed that the Ark Innovation ETF (ARKK) and Ark Next Generation Internet (ARKW) ETF sold 120,141 shares of Tesla stock worth $31.54 million on October 28th. It is worth noting that Ark Investment Management had already sold 85,456 shares of Tesla stock worth about $22.22 million last Thursday. Wood chose to sell Tesla stock at this time mainly because Tesla recently announced better-than-expected third-quarter financial results, causing the company's stock price to soar. Nevertheless, Tesla remains the largest holding in the two ETF portfolios of Ark Investment Management. ARKK and ARKW ETFs additionally purchased 141,504 shares of Amazon stock worth a total of $26.66 million. In the past few trading days, Wood has continued to accumulate Amazon stock in anticipation of strong third-quarter financial results from the company.