During a monthly webinar with investors on July 13, Wood mentioned that she thinks there has been a valuation reset. She thinks that not only that Chinese tech names have come down from a valuation standpoint, they’re expected to remain down. According to SeekingAlpha, in mid-July ARK offloaded over 200,000 shares of JD.com, 1.45 million shares of HUYA Inc., and over 350,000 shares of Tencent Holdings. ARK has been dumping these stocks, including JD.com, since the beginning of July.
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