Cathie Wood's ARK buys a million Twitter shares after Dorsey stepped down

Cathie Wood's ARK buys a million Twitter shares after Dorsey stepped down
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BENGALURU (Dec 1): Cathie Wood's ARK Investment Management bought more than a million shares in Twitter Inc, a day after Jack Dorsey stepped down as the chief executive of the social networking site.

ARK acquired 1.1 million Twitter shares worth US$48.9 million (about RM205.6 million) at Tuesday's (Nov 30) closing price of US$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 technology chief Parag Agrawal as the chief executive officer, its shares closed down 2.7%.

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