Cathie Wood-led Ark Investment Management on Thursday nearly shed all of its exposure in Netflix Inc. and also sold shares in rival entertainment giant Walt Disney Co.
The popular money managing firm sold 2,171 shares—estimated to be worth $839,525—in Netflix on the day shares of the company closed 7.5 percent higher at $386.7 a share. The stock is down 35.3 percent year-to-date.
