Cathie Wood's ARK buys a million Twitter shares after Dorsey steps down


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

(Reuters) - Cathie Wood's ARK Investment Management bought more than a million shares of Twitter Inc, 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 worth $21.7 million. It had on the previous day bought 915,063 shares, taking an advantage of a pullback in shares.

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

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

   

Next In Tech News

Crypto money laundering rises 30% in 2021 -Chainalysis
Microsoft pledges more clarity over UK Xbox subscriptions - regulator
Thailand to soon provide guidelines for improved crypto tax - Finance Minister
EU proposes digital rights, principles in global first
Microsoft cloud growth forecast bodes well for tech rivals, too
Intel scores major win as court scraps $1.2 billion EU antitrust fine
China restricts activists' social media ahead of Olympics
UK's Playtech's shares slip after report of potential breakup
Crypto exchange FTX US valued at $8 billion as first fundraise draws SoftBank, Temasek
CMC Markets says client money in third quarter close to record highs

Others Also Read


Vouchers