: Cathie Wood’s ARK buys the dip on Zoom, scooping up $17.5 million in stock


Cathie Wood’s ARK Investment scooped up more than $17.5 million worth of Zoom Video Communications Inc. shares ZM, -3.64% Tuesday, when the stock sold off 8% after the company’s latest earnings report. The ARK Innovation ETF ARKK, -1.13% bought up 230,964 shares of Zoom, worth $15.2 million based on Tuesday’s closing levels. The Ark Next Generation Internet ETF ARKW, -1.21% added 36,168 shares of Zoom, worth $2.4 billion as of Tuesday’s close. ARK disclosed the purchases in a daily trade notice posted to its website, though it didn’t specify the price at which it bought stock. ARK disclosed the purchase of about $4 million worth of Palantir Technologies Inc. PLTR, -3.41% shares a day earlier.

This article was originally published by Marketwatch.com. Read the original article here.

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