The Latest Breaking News from Ark Innovation

Some might have called Matthew Tuttle crazy for betting against famed stock picker Cathie Wood in 2021. Instead, an ETF that trades against the Ark Innovation ETF (ARCA: ARKK) from Wood has turned into a very profitable investment for those willing to take a chance against high growth names.

Ark did more selling than buying on April 29, including sale of a South African financial services company's stock.

Asset manager Cathie Wood bulked up on -- and also sold -- several stocks that already were among her top holdings.

Morningstar had put out a critical report on Ark Innovation ETF. Asset manager Cathie Wood took issue with its conclusions.

Star fund manager Cathie Wood's Ark Innovation shows "few signs of improving its risk management or ability to successfully navigate the challenging territory it explores", Morningstar said.

After a few days of quiet trading, Cathie Wood is back to dealing big names in big amounts. Her flagship fund has risen recently.

Ark's flagship Ark Innovation ETF has dropped 31% this year, but it has outperformed the S&P 500 over the last five years.

Ark's flagship Ark Innovation ETF has slid 34% year to date. But it has returned an annualized 23% for the past five years.

It snapped up Tesla, Coinbase and Zoom Thursday. Tesla is the No. 1 holding in Ark’s flagship Ark Innovation ETF.