On Thursday, Cathie Wood-led Ark Invest made significant trades, including selling shares of Tesla Inc. (NASDAQ:TSLA) , Meta Platforms Inc. (NASDAQ:META) , and buying ARK 21Shares Bitcoin ETF (BATS:ARKB). These moves come amid evolving market conditions and strategic shifts in the tech and crypto sectors.

ARK Next Generation Internet ETF (BATS:ARKW) fund sold 7,478 shares of Tesla. on Thursday. The sale comes as Tesla’s stock closed at $454.53, marking a 1.74% increase. This transaction is valued at approximately $3.4 million.

Despite recent gains, the Elon Musk-led company has underperformed compared to major indices like the S&P 500 and the NASDAQ 100, as noted by investor Gary Black. Black highlighted Tesla’s advancements in autonomous driving as a potential catalyst for future growth, particularly in the Robotaxi sector.

Despite the sale, Tesla remains Ark’s top holding, with Wood’s stake valued at $949.82 million, representing 12.36% of the portfolio by weight.

Ark Invest reduced its holdings in Meta Platforms by selling 11,056 shares through the ARK Innovation ETF (BATS:ARKK) and 3,155 shares through the ARKW ETF. Meta’s stock closed at $661.53, up 3.43%, resulting in a total sale value of approximately $2.08 million.

This transaction follows reports that Meta is planning significant budget cuts for its metaverse division, which had been a major focus under CEO Mark Zuckerberg. Meta's stock rose after reports said the company planned steep 2026 budget cuts to its metaverse division, including reductions of up to 30% and possible layoffs as early as January. Executives were asked to find 10% cuts companywide, but the metaverse group faced deeper trims amid weak adoption and heavy losses exceeding $70 billion since 2021. Most cuts were expected to hit virtual reality and Horizon Worlds as Meta shifted its focus toward AI and related hardware. The company also bolstered its design and AI efforts by hiring longtime Apple executive Alan Dye.