Cathie Woods ARK Investment Management bought more than a million shares in Twitter Inc, a day after Jack Dorsey resigned as CEO of the social network.
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ARK bought 1.1 million Twitter shares worth $ 48.9 million at Tuesday’s closing price of $ 43.94, according to the company̵[ads1]7;s daily trading report. They had lost 3.4% after opening lower.
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On Monday, after the company appointed technology director Parag Agrawal as CEO, the shares had closed down 2.7 percent.
On Tuesday, Ark also bought 837,248 shares in the online brokerage firm Robinhood Markets Inc worth 21.7 million dollars. It had bought 915,063 shares the day before, and took advantage of a withdrawal in shares.
(Report by Maria Ponnezhath in Bengaluru; Edited by Arun Koyyur)