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

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.

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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,