Cathie Wood Buys $13.5M In Smart Glasses Supplier Vuzix On Dip

Cathie Wood-led Ark Investment Management bought 773,400 shares in Vuzix Corp VUZI on Friday, estimated to be worth about $13.5 million.

Shares of Vuzix, which makes smart glasses for the consumer, defense, security and enterprise markets, fell 8.54% to $17.46 on Friday. The stock has a 52-week high of $32.43 and a 52-week low of $2.07.

The investment firm bought the shares via the Ark Next Generation Internet ETF ARKW and also holds the shares of the company in the Ark Autonomous Technology & Robotics ETF ARKQ. 

See Also: EXCLUSIVE: Vuzix CEO Talks Product Advantages, Next-Gen Smart Glasses

Together, the two ETFs held 2.53 million shares, worth about $48.38 million as of Friday’s trade. 

The wearable and augmented reality technology company earlier this month told Benzinga that it will, in 2021, introduce a next-generation version of its smart glasses that "look and feel like a regular pair of fashion-forward glasses."

Some of the other key Ark Invest sells on Friday included Pinduoduo Inc PDD and buys included Zoom Video Communications Inc ZM and the SPAC Jaws Spitfire Acquisition Corp SPFR.

Photo courtesy of Vuzix.