Cathie Wood Buys Twitter Dip Amid Worst Plunge Since October
- Ark added $71 million in Twitter stock as price plunged
- Her growth-focused ETFs face pain during rotation to value
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Cathie Wood saw a buying opportunity in Twitter Inc.’s worst week since October.
Her firm, Ark Investment Management, scooped up about 1.3 million shares of the social media network worth $71 million on Friday as the stock plunged 15%, according to an email on the firm’s trading activity. That slide came after after Twitter reported disappointing first-quarter sales, in contrast to the stronger-than-expected results from other big tech companies, including Facebook Inc. and Alphabet Inc.