Cathie Wood’s ARK sold Tesla to buy Zoom after earnings

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.