Cathie Wood's Ark Investment Starts Selling Shares Of For First Time In 6 Months

Zinger Key Points
  • Cathie Wood's Ark Investment Management now holds 150,318 shares of 
  •'s ADRs have risen about 62% since their lows in October 2022.

Cathie Wood's Ark Investment Management has resumed selling its shares of Inc JD for the first time since July 2022. 

On Thursday, the Ark Fintech Innovation ETF ARKF sold 6,645 American Depository Receipts of, reports Bloomberg. Wood's firm now holds 150,318 shares of's ADRs have risen about 80% since their lows in October 2022, compared to an over 100% increase in sector bellwether Tencent Holdings Ltd.'s TCEHY U.S. listing. 

Wood bought the e-commerce operator in 2021. However, following Beijing's regulatory squeeze, she started selling shares and moved them out of the ARK Autonomous Technology & Robotics ETF ARKQ

Wood is now more focused on buying growth stocks in Tesla and crypto exchange Coinbase

Also Read: Cathie Wood Predicts FTX Implosion Will Boost One Crypto Sector Which 'Didn't Skip A Beat'

In 2022, Ark Invest sold 183,659 shares of, estimated to be worth $12.55 million. Earlier, Wood said she is keeping an "open mind" on Chinese stocks, as she believes there are still some very interesting companies in the innovation space. 

Following Chinese regulatory easing, technology stocks are seeing a historic rebound. China has approved $1.5 billion in funding for billionaire Jack Ma's Ant Group Co. 

Didi Global Inc DIDIY has also seen ease in business after its leading apps have returned to China's biggest mobile stores. 

Photo: courtesy of Shutterstock.

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