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Cathie Wood's ARK Invest scoops up nearly 10,000 Reddit shares in debut
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Cathie Wood's ARK Invest scoops up nearly 10,000 Reddit shares in debut
Mar 22, 2024 2:31 AM

(Reuters) - Popular investor Cathie Wood's ARK Invest bought nearly 10,000 shares of Reddit ( RDDT ) in the social media platform's strong market debut on Thursday, an email from the asset manager showed.

A total of 9,982 shares of the loss-making company was added to ARK Next Generation Internet ETF ( ARKW ) and ARK Fintech Innovation ETF ( ARKF ), according to the email from late on Thursday.

That holding was worth $503,492 based on the stock's closing price for the day, according to Reuters' calculations.

Wood's flagship fund outperformed all U.S. equity funds in 2020, turning her into a household name among retail investors.

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