Cathie Wood Goes Big On Alibaba With $25 Million Share Purchase, Scales Back On This Social Media Stock - Alibaba Gr Hldgs (NYSE:BABA)

Core Insights - Ark Invest, led by Cathie Wood, made significant portfolio adjustments focusing on Alibaba, Baidu, and Reddit amid changing market dynamics and regulatory challenges affecting Chinese firms [1] Alibaba Trade - Ark Invest's ETFs collectively purchased 157,731 shares of Alibaba, valued at approximately $25.36 million, despite the stock closing at $160.80, down 3.07% [3][4] Baidu Trade - Ark Invest acquired 12,006 shares through ARKK and 2,525 shares through ARKQ, totaling around $1.9 million, with Baidu's shares closing at $131.95, reflecting a slight dip of 0.28% [4][5] Reddit Trade - Ark Invest sold a total of 40,000 shares of Reddit across multiple ETFs, amounting to approximately $8.3 million, with Reddit's stock closing at $208.21, marking a 1.97% increase [2]