Cathie Wood-in possession ARC Investment Managements flagship fund, the ARK Innovation ETF ARKK closed up 14.52% on Thursday. The session marked the fund’s largest single-day rally on record since records began in 2014. according to to a CNBC report.

Some of the ETF’s top holdings rose sharply after weaker inflation data pushed Wall Street higher. Wood had told investors during a webinar on Tuesday that inflation will be affected by companies cutting prices due to excess inventory over the holiday season, the report said.

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The ETF’s top holding Zoom Video Communications Inc ZM closed session on Thursday over 14% higher during Tesla Inc TSLA gained over 7%. Other top holdings including Exact Sciences Corp EXAS and Roku Inc ROKU closed over 9% and 15% higher on Thursday.

Interestingly, just a day earlier, Wood had loaded up on Tesla stock valued at an estimated $7 million. ARK also bought shares from Zoom Video Communications, Roblox Corp RBLX and Coinbase Global Inc COIN with an estimated value of over $10 million each when unloaded NVIDIA Corporation NVDA Stocks valued at over $44 million.

Year-to-date, however, the ETF is still down over 61%.

Main sale: Wood appears to have used Thursday’s rally to shed some of its holdings Tusimple Holdings Inc TSP and Materialize NV MTLSafter selling over $2 million and $3 million worth of shares, respectively, based on the session’s closing price.

Tusimple announced this on Thursday Cheng Lu returns to the company as Chief Executive Officer and President of the company. Lu was also appointed as a new board member. “The Board plans to make additional appointments of new independent directors as soon as possible,” the company announced.

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Photo Courtesy: ARK Invest