Cathie Wood-led Ark Investment Management on Monday shed about 16,621 shares — estimated to be worth about $2.68 million — in Alibaba Group Holding (NYSE: BABA), nearly decimating all of its exposure held in on of its three exchange traded funds.
Some analysts and investors believe the market will start to trend lower. They argue there are headwinds such as inflation. Some also suggest that considering the markets have moved higher, it is overdue for some profit-taking.