Cathie Wood’s ARK buys a million Twitter shares after Dorsey steps down
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Fox News contributor Miranda Devine discusses whether the new Twitter CEO Parag Agrawal will allow Donald Trump back on the company’s site amid the social media censorship.
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.
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ARK acquired 1.1 million Twitter shares 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.
THE HISTORY OF TWITTER: HOW THE SOCIAL MEDIA PLATFORM HAS GROWN
On Monday, after the company named its technology chief Parag Agrawal as the CEO, the shares had closed down 2.7%.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TWTR | TWITTER, INC. | 43.94 | -1.84 | -4.02% |
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 an advantage of a pullback in shares.
(Reporting by Maria Ponnezhath in Bengaluru; Editing by Arun Koyyur)
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