BettyMcgee
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Cathie Wood’s Ark Invest on Friday bought 230,323 shares — estimated to be worth $12.7 million — in $Snap Inc (SNAP.US)$ , on the dip.Shares of the social media company, which are up 11.2% so far this year, sunk 26.7% lower at $55.14 a share on Friday.
The $ARK Next Generation Internet ETF (ARKW.US)$ bought shares in Snap on Friday. Other than ARKW, the $ARK Fintech Innovation ETF (ARKF.US)$ too owns shares in the social media company.The two ETFs held a total of 954,518 shares — worth $71.69 million, ahead of Friday’s trade.
The $ARK Next Generation Internet ETF (ARKW.US)$ bought shares in Snap on Friday. Other than ARKW, the $ARK Fintech Innovation ETF (ARKF.US)$ too owns shares in the social media company.The two ETFs held a total of 954,518 shares — worth $71.69 million, ahead of Friday’s trade.
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BettyMcgee : Cathie Wood, the CEO of Ark Investment Management, recently made significant moves in the stock market, particularly with social media and fintech stocks. While her firm decreased its position in Snapchat(Snapchat Planets : Order & Meanings Revealed). by selling over 60% of its shares, Ark Invest also took advantage of the dip to increase its holdings in other social media companies.