Cathie Wood's ARK buys a million Twitter shares after Dorsey steps down
Reuters
Published Nov 30, 2021 10:46PM ET
(Reuters) - Cathie Wood's ARK Investment Management bought more than a million shares of Twitter Inc (NYSE:TWTR), a day after Jack Dorsey stepped down as the chief executive of the social networking site.
ARK acquired 1.1 million Twitter shares worth $48.9 million at Tuesday's closing price of $43.94, according to the firm's daily trade report. They had lost 3.4% after opening lower.
On Monday, after the company named its technology chief Parag Agrawal as the CEO, the shares had closed down 2.7%.
Ark on Tuesday also bought 837,248 shares of online brokerage firm Robinhood Markets Inc (NASDAQ:HOOD) worth $21.7 million. It had on the previous day bought 915,063 shares, taking an advantage of a pullback in shares.
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Written By: Reuters
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