Cathie Wood stepped up selling of social media platform Twitter Inc. shares days before its earnings.
Wood’s firm ARK Investment Management LLC sold nearly 4 million Twitter shares on Monday, the most in one day since at least May, according to trading data from ARK compiled by Bloomberg. The social-media company is set to announce its earnings on Thursday.
Wood’s flagship ARK Innovation ETF dumped 3.66 million shares of Twitter on Monday, while the ARK Next Generation Internet ETF sold more than 280,000 shares, according to the asset manager’s daily trading updates. That amounted to about $142 million based on Monday’s closing level.
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