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Cathie Wood’s ARK Buys One Million Twitter Stocks After Dorsey Resigns

FILE PHOTO: Cathie Wood, founder and CEO of ARK Investment Management LLC, speaks during the Skybridge Capital SALT New York 2021 conference in New York
FILE PHOTO: Cathie Wood, founder and CEO of ARK Investment Management LLC, speaks during the Skybridge Capital SALT New York 2021 conference in New York City, U.S., September 13, 2021. REUTERS/Brendan McDermid / File Photo

December 1, 2021

(Reuters) – Cathie Wood’s investment management firm ARK has bought more than a million shares of Twitter Inc, a day after Jack Dorsey stepped down as chief executive of the social networking site.

ARK repurchased 1.1 million Twitter shares worth $48.9 million for Tuesday’s closing price of $43.94, according to the company’s daily trade report. They lost 3.4% after opening lower.

On Monday, after the company appointed its chief technology officer Parag Agrawal as CEO, shares closed down 2.7%.

Ark on Tuesday also bought 837,248 shares of online brokerage Robinhood Markets Inc for $21.7 million. On the previous day, it bought 915,063 shares, taking advantage of the share price drop.

(Reporting by Maria Ponnezhath in Bengaluru; Editing by Arun Koyyur)

https://www.oann.com/cathie-woods-ark-buys-a-million-twitter-shares-after-dorsey-steps-down/?utm_source=rss&utm_medium=rss&utm_campaign=cathie-woods-ark-buys-a-million-twitter-shares-after-dorsey-steps-down Cathie Wood’s ARK Buys One Million Twitter Stocks After Dorsey Resigns

Bobby Allyn

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