Cathie Wood Sells $41M In Tesla Shares And Loads Up On This Chip Stock Amid Thursday's Plunge

Cathie Wood-led Ark Investment Management bought 297,818 shares of $NVIDIA (NVDA.US)$ via three of the firm’s exchange-traded funds, valued at over $41.5 million based on Thursday’s closing price.
Nvidia is the 27th largest holding in the firm’s flagship $ARK Innovation ETF (ARKK.US)$ with a weight of 0.94%, according to data on the firm’s website.
Interestingly, Wood had sold over 293,000 shares of the chip maker last week, via two of the firm’s exchange-traded funds, valued at over $50 million ahead of the company’s earnings release.
Nvidia reported in a securities filing on Wednesday that the Biden administration has placed restrictions preventing it from selling its A100 and H100 chips to Russia and China.
The chipmaker said it expects to lose $400 million — or 10.6% of its data center business and 6.8% of its third-quarter revenues — from these restrictions.
Tesla Sale: Wood dumped over 150,000 shares of $Tesla (TSLA.US)$, through three of the company’s funds, valued at over $41.5 million based on Thursday’s closing price.