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

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,

For many investors, Zoom Video Communications ( ZM 0.93%) is a pandemic trade that has long since lost its allure. But Cathie Wood's Ark Invest published a valuation model in 2022 estimating Zoom would reach $1,500 per share by 2026. From the current share price of $67, that forecast implies 2,138% upside in little more than two years.