Tesla's electric vehicle sales are shrinking, but Cathie Wood and Ark Invest say there's a different reason to buy the stock.

Cathie Wood, chief of Ark Investment Management, frequently adjusts her top positions, adding to a holding when the stock falls and selling when it rises. Last week she did some notable buying. This week she was selling,

Wood (Mama Cathie to her followers) rocketed to fame after a stupendous return of 153% in 2020 and easy-to-understand explanations of her investment strategy in numerous media appearances.

Cathie Wood-led Ark Invest made significant trades, with Advanced Micro Devices Inc (AMD) and Palantir Technologies Inc (PLTR) being the most prominent.

If you follow Cathie Wood at all, you know the chief of Ark Investment Management loves to double down on her stock positions when they decline. And that’s exactly what she did this week. Investors and analysts are split in their opinions of Wood,

Shopify (NYSE: SHOP) is one of her favorite stocks. She has positions in three of Ark Invest's exchange-traded funds (ETF): 3.75% of the flagship Ark Innovation ETF, 2.87% of the Ark Next Generation Internet ETF, and 9.07% of the Ark Fintech Innovation ETF, its largest position.

Cathie Wood's growth investing style could be back in fashion. The co-founder, CEO, and investment manager of the Ark Invest family of exchange-traded funds is getting into good groove in recent weeks. Her largest fund is up 17% since bottoming out last month.