Ark Invest ditches Tesla stock for shares in Teladoc

Investment firm Ark Invest sold 20,466 shares of Tesla stock and purchased 57,900 shares of Teladoc stock in various funds, according to Business Insider.

The Tesla stock was worth around $4.1 million, while the purchase of Teladoc shares is worth around $3 million. 

Since December, Ark Invest's exchange-traded funds haven't had much success, including a 20 percent drop in the Disruptive Innovation ETF. However, CEO Cathie Wood is defending her investments, stating Ark's funds will quadruple in the next five years, Business Insider reports.

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