- ARK Investment Management's ARK Innovation ETF (NYSEARCA:ARKK) is off another 5% in premarket trading, falling back to levels not seen in nearly six months as Big Tech and momentum names continue to slide.
- Large holdings are also getting hit hard before the bell. Tesla (NASDAQ:TSLA), Square (NYSE:SQ) and Roku (NASDAQ:ROKU) are all down more than 5%.
- ARKK is below $100 for the first time since November 16.
- On Monday, the ARK Fintech Innovation ETF (NYSEARCA:ARKF), sold 87,560 shares of Apple (NASDAQ:AAPL) amid the tech selloff, more than 30% of its total holdings. ARKF is the only ARK ETF that owns apple.
- ARKF still holds 200,387 shares of Apple, according to Bloomberg.
- Wood has been selling bigger, liquid tech names of late to buy smaller companies on the dips, such as newly-public Coinbase (NASDAQ:COIN) and Palantir (NYSE:PLTR), off more than 20% year to date.
- On Monday Wood bought 28,011 shares of ARK's own 3D Printing ETF (BATS:PRNT) for the ARK Space Exploration ETF (BATS:ARKX).
- On Friday, Wood appeared on TV to say she loves the current setup in the market.