Ark’s Cathie Wood Buys Zoom After Earnings Spurred Selloff
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Cathie Wood was apparently unfazed by Zoom Video Communications Inc.’s post-earning decline, as her ARK Investment Management bought almost 200,000 shares of the video-conferencing company in at least two exchange-traded funds.
The ARK Innovation ETF purchased 157,233 Zoom shares and the ARK Next Generation Internet ETF bought 36,847 shares, according to a trading update.