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: Cathie Wood wades into GM as Ark Invest trims Tesla stake further

Cathie Wood’s Ark Invest has made its first investment in General Motors
GM,
+1.75%
,
according to disclosures made by the company.

The roughly $6 million purchase for the ARK Autonomous Technology & Robotics ETF
ARKQ,
+0.37%

was the largest buy order made on Monday, as the ARK Next Generation ETF
ARKW,
-0.30%

sold roughly $21 million worth of Tesla and the flagship Ark Innovation ETF
ARKK,
+0.07%

sold some $13 million of Tesla stock.

GM is seeking approval from the National Highway Traffic Safety Administration to put a driverless electric vehicle into commercial service.

Tesla
TSLA,
+1.22%

is still the top holding of both the innovation and autonomous technology funds, and the number-two holding in the internet fund.

The innovation fund has dropped 67% from its June highs.

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