Key Facts

According to Ark's daily transaction reports, three of the firm's funds, includings its flagship Ark Innovation ETF, sold a combined 142,708 shares of Tesla on Wednesday, representing a stake worth about $108 million and adding to separate sales of about $166 million since late July.

The newest transactions come just days after Wood touted Tesla's success and gave shares a price target of $3,000 (nearly 300% more than current levels) in an interview with Yahoo! Finance, saying the company's growing market share makes it poised to benefit from a nearly 18-fold increase in electric-vehicle sales by 2025.

Though they've climbed about 6% over the last month, shares of Tesla, priced at about $757.50, are down nearly 15% from an all-time high in January.

Meanwhile, Wood isn't alone among noteworthy Tesla investors selling off shares after the recent runup in prices: Three company officers, including two c-suite executives, sold about $4 million worth of stock in a series of transactions this week, according to regulatory filings.

Ark and Tesla did not immediately respond to Forbes' requests for comment.

Cathie Wood's Ark Invest bought about 830,000 Twitter shares worth $55 million Thursday after the social-a company rolled out a feature that enables users to send and receive tips in bitcoin.

The investment firm's flagship fund ARK Innovation ETF purchased 661,141 shares in the company, while the ARK Next Generation Internet ETF picked up another 168,766 shares, according to a trade notification update.

Cathie Wood's Twitter bet reflects her thinking that ongoing regulatory issues for digital assets will be manageable. Rule-enforcing agencies around the world have intensified their scrutiny of exchanges and cryptocurrencies as they have become more popular.

In the US, Securities and Exchange Commission boss Chair Gary Gensler has taken a tough stance, saying recently that cryptocurrencies might not be a viable form of payment for long-term use. The SEC chairman has called for greater investor protection around the industry, stoking fears that Wall Street's top regulator is working overtime to create a set of rules that may limit innovation within the volatile cryptocurrency market.

But Wood, whose investing strategy is centered around disruption innovation in tech, recently made a bullish prediction for bitcoin, saying it could hit as much as $500,000 in five years. The digital asset was trading at $42,563 Friday, 3.5% lower on the day, according to data from CoinDesk.

Bitcoin tipping is not the only new feature Twitter flagged. The social network plans to allow its users to connect their crypto wallets to facilitate bitcoin tips, and to authenticate non-fungible tokens displayed on profiles as belonging to the account holder. There are no concrete plans for NFTs yet, but Twitter has said it's in the exploration process.

Another new feature announced by Twitter is Super Follows, a monthly subscription service where creators charge a fee for access to premium content.

Twitter was last trading at $66.72 per share on Friday, and is up 23% so far this year.

guhh can't wait to exit arkk...stuck at 120...

guhh can't wait to exit arkk...stuck at 120...

guhh can't wait to exit arkk...stuck at 120...

How long have you been investing? LOL

Stop looking at short term prices. ARKK is disruptive tech. It takes years to see the growth.

If you don't lose that mindset, I'm sure you'll never be successful in any market.

Zoom out just 1 year and you see that ARKK has been growing. You're stuck at 120 and now it's only slightly down but you are stressed? I think investing in disruptive technology and innovation is not for you, to be honest.

Go try a different asset class such as FDs or bond funds.

BTFD 

bought in since last Dec. It's one part of my funds. It's my only fund thats negative, thanks to this dip. Dun worry, I have my allocation in FDs and fixed income funds. Lately Mama Cathie has been going in big on TDOC and COIN. yea sorry. no thanks for me.
i'd rather buy other co dip than to avg down on arkk anymore ugh hahah

How long have you been investing? LOL

Stop looking at short term prices. ARKK is disruptive tech. It takes years to see the growth.

If you don't lose that mindset, I'm sure you'll never be successful in any market.

Zoom out just 1 year and you see that ARKK has been growing. You're stuck at 120 and now it's only slightly down but you are stressed? I think investing in disruptive technology and innovation is not for you, to be honest.

Go try a different asset class such as FDs or bond funds.

Need to hodl now because it is having too much cash at the moment and nothing to buy because most equities are overvalued 

but they don't hold much cash

where did you get this info from

Got check their outflows now is higher than inflows since late Aug

It is currently sitting more than a billion waiting to buy after selling off Tesla 200million recently

wait what

arkk has 0.2% or 38.9 mil in cash

Those cash are from the company itself not the fund cash settlements 

that is not how things work

arkk post their daily holdings like everyday

you can go and see
so they magically getting cash and not posting it in their holdings
just because they sell something it could go to the outflows
I give up

no idea where you come up with this stuff

New York-based ARK Investment Management LLC, an investment adviser focused solely on investing in disruptive innovation, will relocate its corporate headquarters to St. Petersburg and will also take part in building an incubator.

ARK, spearheaded by iconic investor Cathie Wood, will open its new corporate headquarters in downtown St. Pete at 200 Central, which is where the Industrious co-working space is located. The relocation will become effective Nov. 1.

In addition to the HQ relocation, ARK is collaborating with the Tampa Bay Innovation Center on the new incubator that Pinellas County will build and own. The new name of the building will be ARK Innovation Center. It’s scheduled to open in July 2023 and will be at 4th Street and 11th Ave. South in the Innovation District.

Construction for the 45,000-square-foot ARK Innovation Center will take place in the first quarter of 2022, according to the company’s announcement on Wednesday. The Tampa Bay Innovation Center will continue to operate the building.

“We are thrilled to relocate our corporate headquarters to St. Petersburg, Florida, as we believe the Tampa Bay region’s talent, innovative spirit, and quality of life will accelerate our growth initiatives,” Wood, ARK’s Founder, CEO and CIO stated in the company’s announcement. “ARK is not a traditional Wall Street asset management firm, and we are looking forward to breaking the mold further by relocating to St. Petersburg, a city investing in technology, science, and innovation. Our relocation and the ARK Innovation Center will allow us to be more innovative and to impact the broader community while shining a spotlight on the technological advances and creativity permeating the Tampa Bay region.”

Tonya Elmore, president and CEO of the Tampa Bay Innovation Center, told the St. Pete Catalyst she believes ARK was interested in working with the center due to its longstanding and key supporters.

Elmore described the collaboration as a “game-changer for our region.”

When the center is completed, it will house 10,000 square feet for innovation partners, 30,000 square feet of incubator space – and there will be a café.

By 2026, the innovation center is expected to impact the county by $28 million, thanks to the 1,265 direct and indirect jobs expected. Meanwhile, its clients and graduates are expected to generate $127 million in annual revenue, according to the announcement.

“Tampa has been recognized as the top emerging technology city in the U.S. and the broader area including St. Petersburg is among the top metro areas for STEM professionals. It offers a vast network of companies, universities, incubators, entrepreneurs, and many others dedicated to advancement,” stated Jana Haines, ARK’s Chief Strategy Officer. “We are inspired by the area’s vibrant and diverse talent base and the early success of public and private partnerships focused on innovation. As St. Petersburg is primed for exponential growth, ARK hopes to be a catalyst and connector, amplifying the efforts already underway.”

A significant number of ARK employees will relocate and work in the office; however, ARK has a hybrid model where employees can also work remotely.

“With this model, ARK hopes to maximize its productivity and attract top talent from around the world,” the company’s release read.

ARK is at its resistance point again