Cathie Wood's Ark Invest made headlines by purchasing nearly 10,000 $RDDT shares of Reddit during its market debut, marking a significant investment in the social media platform on the first day of trading. Additionally, Ark Invest acquired $46 million worth of Meta (formerly known as Facebook) stocks. The investment in Reddit was distributed across Ark's Next Generation Internet exchange-traded fund and Fintech Innovation ETF, totaling approximately $500,000. This move came as Reddit's shares rallied in its market debut but then experienced a decline below the opening price on the second day of trading.