Cathie Wood Continues Alibaba Selling With Just 40 Shares Left In Portfolio, Loads Up Heavily On These Chinese Rivals


Cathie Wood-led Ark Invest continued to trim the exposure of its exchange-traded funds to Alibaba Group Holding Ltd. BABA stock on Thursday.

Ark sold 660 shares, estimated to be worth around $113,520 as per Thursday’s closing price, in the Jack Ma-co-founded company during the day via Ark Space Exploration & Innovation ETF ARKX, Ark Autonomous Technology & Robotics ETF ARKQ, and the Ark Fintech Innovation ETF ARKF.

Wood’s firm now holds 20 Alibaba shares each via ARKF and ARKX and has entirely cut the exposure to BABA shares in ARKQ.

Alibaba shares closed 0.74% lower at $172 on Thursday.

Ark, meanwhile, continued its buying spree in some of the primary Alibaba competitors in China. It loaded up 38,160 shares in Pinduoduo Inc. PDD, estimated to be worth around $3.9 million, and 127,852 shares in JD.Com Inc. JD, worth about $10.2 million — both via ARKF.

See Also: Pinduoduo Better Positioned Than Alibaba, Other Rivals In China: Why Cathie Wood's Ark Is Bullish

Pinduoduo stock closed 3.8% lower at $102.76 on Thursday and JD shares closed 0.67% lower at $80.24.

These are some other key Ark trades from Thursday:

  • Sold 2,892 Class C shares of Alphabet Inc. GOOGL GOOG via ARKQ.
  • Sold 55,200 shares in Trimble Inc. TRMB via ARKQ.
  • Bought 271,057 shares in Genius Sports Ltd. GENI via ARK Next Generation Internet ETF ARKW.
  • Bought 178,926 shares in Pfizer Inc. PFE via ARK Genomic Revolution ETF ARKG.
  • Bought 17,173 shares in Teladoc Health Inc. TDOC via ARKF.

Photo: By Leon Lee on Flickr

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