YAHOY - Ark Invest's Cathie Wood Doubles Down On Yahoo Japan Operator After A Year-Long Hiatus | Benzinga
The renowned investor, Cathie Wood, has recently dipped back into LY Corp. (OTC:YAHOY), the Yahoo! Japan operator, after more than a year.
What Happened: Wood’s investment fund, Ark Fintech Innovation ETF (NYSE:ARKF), acquired about 1.71 million shares of LY Corp last week, according to trading data from Ark Investment Management LLC. LY Corp, a major player in digital communication services in Japan, is mostly owned by a joint venture comprising SoftBank Group Corp and South Korea’s Naver Corp, reported Bloomberg.
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Despite a recent user information leak, the company’s stock has continued to climb over the last two months, bolstered by a strong quarterly performance. Ark Fintech Innovation ETF is projected to have its best annual performance against the Nasdaq 100 since 2020. Its primary holdings include Coinbase Global Inc (NASDAQ:COIN), Block Inc (NYSE:SQ), ...