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Cathie Wood’s Ark Investment Management on Monday sharply lowered its remaining exposure in two Chinese technology companies amid a regulatory crackdown from Beijing. What Happened: The St. Petersburg, Florida-based investment firm nearly halved its remaining stake in Pinduoduo Inc (NASDAQ: PDD) and shed about 12% of the total shares that it held prior to Monday’s trading in JD.com Inc (NASDAQ: JD), data from the popular asset management showed.
...read full article on Benzinga
