Cathie Wood’s ARK Invest scoops up nearly 10,000 Reddit shares in debut
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CFO of Reddit Drew Vollero talks with a trader at the New York Stock Exchange (NYSE) in New York City, U.S., March 21, 2024. REUTERS/Brendan McDermid
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(Reuters) – Popular investor Cathie Wood’s ARK Invest bought nearly 10,000 shares of Reddit in the social media platform’s strong market debut on Thursday, an email from the asset manager showed.
A total of 9,982 shares of the loss-making company was added to ARK Next Generation Internet ETF and ARK Fintech Innovation ETF, according to the email from late on Thursday.
That holding was worth $503,492 based on the stock’s closing price for the day, according to Reuters’ calculations.
Wood’s flagship fund outperformed all U.S. equity funds in 2020, turning her into a household name among retail investors.
