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(ARKK), Tesla Motors, Inc (NASDAQ:TSLA) - Cathie Wood Loads Up Heavily On Debutant Uipath, Trims Tesla

Space Exploration & Innovation ETF (BATS: ARKX). ARKF bought 238,407 shares, ARKG bought 540,806 shares, ARKK bought 1,348,999 shares, ARKQ bought 187,267 shares, ARKW bought 384,976 shares, and ARKX bought 38,475 shares; all representing about 0.38% of the respective ETFs. The products of the Bucharest, Romania-based software company are used by organizations to help efficiently automate their various business processes. PATH closed 5.34% higher on Wednesday, giving the company a market valuation of $35.8 billion. Wood’s firm, which counts Tesla as its largest holding and had recently updated the stock’s target price to $3,000, sold 163,981 shares estimated to be worth $122 million based on the electric vehicle maker’s Wednesday close of $744.12. 

Cathie Wood Just Bought More of This Chinese EV Stock

Author Bio Evan is a senior technology specialist at The Motley Fool. He was previously a senior trading specialist at Charles Schwab, and worked briefly at Tesla. Evan graduated from the University of Texas at Austin, and is a CFA charterholder. Follow @TMFNewCow Electric vehicle (EV) stocks have been getting battered for the last several months following a massive rally in late 2020. While there is little doubt that EVs represent the future of the auto industry, that revolution will take decades to play out due to long upgrade cycles and the relatively slow pace of technological innovation in areas such as battery development or charging speeds.

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