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Cathie Wood's ARK Invest scoops up nearly 10,000 Reddit shares in debut

Published 03/22/2024, 05:05 AM
Updated 03/22/2024, 05:12 AM
© Reuters. 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

(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.

Latest comments

woods is not popular. she is a laughing stock
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