ZOOM - Cathie Wood's Ark Invest Buys $12.6M Of Zoom Shares Following Positive Earnings | Benzinga
Ark Invest’s Zoom Trade: On Wednesday, Cathie Wood-led Ark Invest made a significant move by purchasing over $12 million worth of Zoom Video Communications (NASDAQ:ZM) stock. This decision comes in the wake of Zoom’s recent earnings report, which surpassed expectations and hinted at potential growth.
The Zoom Trade: The primary trade by Ark Invest on this day was a substantial investment in Zoom. Ark purchased $12.61 million worth of Zoom shares through its flagship ARK Innovation ETF (NYSE:ARKK) and also the ARK Next Generation Internet ETF (NYSE ARKW). The total amount of shares purchased was 197,554. On Wednesday, Zoom shares closed 3.2% lower at $63.83.
Following the company’s Q3 earnings release, which showcased an EPS and revenue beat alongside an upbeat outlook, Ark’s decision to buy Zoom shares seems to be a strategic move. ...