Sources
Loading...
Additional media
Loading...
DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
Cathie Wood's Flagship Fund $ARKK Dumps $ZM. Trading disclosure from Ark on Tuesday showed the firm sold 424 Zoom Video shares it held and as a result, the proportion of the stock dropped to 0.0004% of the ETF’s holding. Ark now holds Zoom shares through $ARKW, with the fund… https://t.co/mAypObuiKw
Cathie Wood $ARKK sold completely out of $ZM Zoom stock yesterday. At the peak, this name was over 10% of her total holdings. Her average cost basis was $280. The stock is currently at $68. https://t.co/v8j09WuDdj
$ZM Cathie Woods: Zoom will trade well over $1,500 by 2026. Also Cathie Woods: Closes out entire Zoom position at $67 today. Her cost basis was $280. https://t.co/Lg4u8QibtH
Cathie Wood, the prominent investor and CEO of ARK Invest, has completely divested her flagship fund, ARKK, from Zoom Video Communications (ZM) stock. At its peak, Zoom comprised over 10% of ARKK's total holdings, with Wood's average cost basis at $280 per share. The stock is currently trading at approximately $67. This decision comes despite Wood's previous prediction that Zoom would trade well over $1,500 by 2026. The divestment resulted in significant losses for ARK Invest, with estimates suggesting hundreds of millions of dollars lost. Following the announcement, Zoom shares rose by 12%. ARK's trading disclosure showed the firm sold 424 Zoom Video shares.
