Wood’s Ark Buys More Zoom Amid Slump on Growth Concerns

Ark buys about $133 million worth of stock as it plunged 15%
Purchase comes at a time when pandemic winners are falling

WATCH: Zoom CFO Steckelberg discusses earnings, outlook, the future of work after the pandemic, and the failed merger with Five9.Source: Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Abhishek Vishnoi

November 24, 2021 at 4:01 AM UTC

Updated on

November 24, 2021 at 2:45 PM UTC

This article is for subscribers only.

Cathie Wood stepped up buying of Zoom Video Communications Inc. after the stock slumped as earnings failed to address concerns over growth amid economic reopening.

ARK Investment Management, which is already one of the largest shareholder of the video conferencing company, bought about $133 million worth of shares on Tuesday as they closed 15% down to their lowest since June 2020.