🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Zoom Up on Cathie Wood Bet After Slide

Published 04/06/2021, 17:49
ARKK
-
ARKW
-
ZM
-

By Christiana Sciaudone

Investing.com -- Zoom Video Communications Inc (NASDAQ:ZM) thanks you, Cathie Wood. 

The star investor bought about $31 million worth of shares, more than 95,000, on Thursday, through the ARK Innovation ETF (NYSE:ARKK).

The firm also holds 491,264 shares, worth about $161 million, in Zoom via the ARK Next Generation Internet ETF (NYSE:ARKW) as of Thursday, 24/7 Wall St. reported. 

Shares of Zoom rose over 260% last year to hit a record, but have since fallen about 40% as the pandemic darling has lost lustre amid the economic reopening in the U.S. and our return to the office and school.

Wood seems to be taking advantage of the dip, and betting that Zoom won't be made irrelevant by our desperate need to socialize in person again.

 

 



Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.