Why Cathie Wood Is Selling Google and Buying More Meta Platforms Stock

Ark Invest CEO Cathie Wood recently made a surprising move in the tech sector. The investor, famous for her big bets on innovative tech stocks, bought 43,091 shares of Meta Platforms (META) worth approximately $27.9 million from the Ark Innovation ETF (ARKK) and ARK Next Generation Internet ETF (ARKW). Simultaneously, she sold 84,392 Alphabet (GOOG) (GOOGL) shares amounting to roughly $27.8 million across the same ETFs.

Wood is thus funneling new funds into Meta while withdrawing from Alphabet. This timing is particularly noteworthy, given Meta's shares have risen to their highest level in two months, spurred by the company's latest AI advancements.