January 27, 2021
Business News

Cathie Wood Sells Tesla Shares To Buy The Dips In Alibaba, Paypal

Several of the strong performing Ark ETFS from Cathie Wood bought shares of two underperforming stocks on Tuesday. 

What Happened: Shares of Alibaba Group Holding (NYSE: BABA) were down 8% Tuesday after the Ant Group IPO was pulled in China. Alibaba owns over 30% of Ant Group. 

Paypal Holdings Inc (NASDAQ: PYPL) shares were down 4% Tuesday after reporting third-quarter earnings.

The Ark Fintech Innovation ETF (NYSE: ARKF) bought 9,443 shares of Alibaba and 23,285 shares of Paypal on Tuesday.

The…

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