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Is famed Tesla investor Cathie Wood switching into Motor City stalwart General Motors?

Cathie Woods’ ARK Investment Management was yesterday a seller of Tesla Inc (NASDAQ:TSLA) shares and a buyer of Chevrolet and Cadillac parent General Motors Company (NYSE:GM). ARK sold nearly 42,000 Tesla shares on Monday, worth around US$33mln, according to the ‘active ETF’ operators’ daily trade notification report, which also showed the purchase of 158,187 General Motors shares, worth about US$6mln. The sell orders came as most of the market was gripped by bear trading – Tesla stock closed 9% lower at US$787.11 and General Motors closed down 3.3%, whilst the Nasdaq and S&P 500 shed 4.3% and 3.2% respectively. It was the ninth trading day in the past month in which ARK sold Tesla stock. The daily notification from ARK detailed that 15,862 Tesla shares were sold from the ARK Innovation ETF (ARKK) whilst 25,892 Tesla shares were sold from the ARK Next Generation Internet ETF (ARKW). ARK bought the General Motors shares into the ARK Autonomous Tech & Robotics ETF (ARKQ). Also in Monday’s dealing, ARK cashed out of around 135,000 Twitter Inc (NYSE:TWTR) shares ahead of Elon Musk taking the social media stock private. ARK’s ETFs were, meanwhile, also buyers of stock in Coinbase Global Inc (NASDAQ:COIN), synthetic DNA firm Twist Bioscience Corp (NASDAQ:TWST), AI telecoms specialist Twilio Inc (NYSE:TWLO), media-streamer Roku Inc (NASDAQ:ROKU), Draftkings Inc (NASDAQ:DKNG), and robotics software maker UiPath Inc (NYSE:PATH).