
Cathie Wood-led Ark Investment Management on Tuesday sharply trimmed its Twitter Inc (NYSE:TWTR) stake as the microblogging site faces buyout bids from Tesla Inc (NASDAQ: TSLA) CEO Elon Musk and other private equity firms.
The St. Petersburg, Florida-based money managing firm sold 114,576 shares, estimated to be worth $5.28 million, in the social media company.