Why Cathie Wood Dumps Two 'Magnificent 7' Stocks — and Makes a Bold Bet on Trade Desk (TTD) Instead

Cathie Wood cut two key "Magnificent 7" stocks on Thursday as part of a broad shift across her ARK ETFs. Fresh trade filings for December 4 show new selling in Tesla (TSLA) and Meta (META), while Trade Desk (TTD) emerged as the day's biggest buy. Wood appears to be taking money out of large-cap winners after a strong year and moving it into mid-cap growth stocks she sees as better positioned for 2026.

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Meta and Tesla Lead the Day's Major Cuts

The biggest reductions came from two Magnificent 7 stocks. ARK sold 14,211 shares of Meta for roughly $9.1 million and trimmed its Tesla position by selling 7,478 shares for about $3.3 million. Both stocks have been cut several times in recent days, showing a steady move out of mega-cap tech and toward areas where Wood sees more near-term upside.

ARK also continued to exit Iridium Communications (IRDM). The firm sold 231,395 shares worth nearly $4 million across the ARK Innovation ETF (ARKK), the ARK Autonomous Technology & Robotics ETF (ARKQ), and the ARK Space Exploration & Innovation ETF (ARKX), extending a week-long trend of reductions.

Wood Turns to Trade Desk Stock with a Big Buy

The most eye-catching trade came from Trade Desk. ARK bought 204,354 shares worth about $7.9 million across its funds. The ARKK added 158,981 shares, while the ARK Next Generation Internet ETF (ARKW) picked up another 45,373 shares.

This marks one of ARK's largest single-day moves into an ad-tech name this month. The buy signals growing confidence in Trade Desk's ability to gain share as digital ad budgets continue to shift toward more targeted platforms.

ARK Makes Additional Buys across Tech and Crypto

Beyond the headline trades, ARK increased its exposure to crypto-related assets. The funds bought 52,200 shares of the ARK 21Shares Bitcoin ETF (ARKB) across ARKW and ARKF, reflecting ongoing interest in digital assets.

ARKQ also added 42,377 shares of WeRide (WRD), continuing a steady build in the autonomous driving name.

ARK added to a few other growth names as well. The ARKW ETF bought 28,409 shares of Pure Storage (PSTG) for about $2 million, while ARKK and ARKG picked up a combined 9,486 shares of GeneDx (WGS).