Cathie Wood's ARK buys a million Twitter shares after Jack Dorsey’s exit

Cathie Wood's ARK Investment Management bought more than a million shares of Twitter Inc., a day after Jack Dorsey stepped down as the chief executive of the social networking site.

The New York-based investment manager acquired 1.1 million shares of the microblogging platform worth $48.9 million at Tuesday's closing price of $43.94, according to the firm's daily trade report. They had lost 3.4% after opening lower. On Monday, after the company named its Chief Technology Officer Parag Agrawal as the CEO, the shares had closed down 2.7%.

Ark on Tuesday also bought 837,248 shares of online brokerage firm Robinhood Markets Inc worth $21.7 million. It had on the previous day bought 915,063 shares, taking advantage of a pullback in shares.


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