Ark Invest made a decisive move on Tuesday by selling 2,772 shares of Tesla Inc. through its ARK Next Generation Internet ETF (NYSE:ARKW). The sale, valued at approximately $1.1 million based on Tesla’s closing price of $398.09, comes ahead of Tesla’s anticipated fourth-quarter earnings report. Investors are keenly observing Tesla’s performance, especially with CEO Elon Musk’s ambitious promise of a 30% sales increase in 2025. Despite a remarkable 106.68% rise over the past year, Tesla’s stock has seen a slight decline of 1.41% year-to-date. The market remains cautious, with Wall Street expressing skepticism about Tesla’s growth projections.

On the same day, Ark Invest increased its stake in Amazon.com Inc. by purchasing 41,338 shares through ARK Innovation ETF (NYSE:ARKK) and ARKW. This acquisition, totaling approximately $9.8 million, is based on Amazon’s closing price of $238.15. Notably, Ark had purchased $1.76 million worth of Amazon shares just a day prior. The Amazon stock purchases has been a continuing trend with the Wood-led firm adding another $8.9 million worth of shares in early January.