Cathie Wood Snaps Up $63.8M In Facebook As Social Media Giant Sets Metaverse Ambitions

Cathie Wood’s money managing firm Ark Invest on Friday raised its exposure in Facebook Inc FB, a day after the Mark Zuckerberg-led social media company said it has changed its name to Meta to reflect its ambition beyond social media. 

The popular money managing firm bought 197,259 shares — estimated to be worth $63.83 million — in the Meta stock.

Shares of the company closed 2.1% higher at $323.57 a share on Friday. Meta will change its stock ticker from FB to MVRS, effective Dec. 1.

Ark Invest deployed Ark Next Generation Internet ETF ARKW to buy shares in Meta. Ark Fintech Innovation ETF ARKF too owns shares in the company.

See Also: Why The Facebook Name Change Is A Big Deal, According To Gene Munster

Here are a few other key trades from Ark on Friday:

• Sold 488,016 shares — estimated to be worth $44.62 million — in Peloton Interactive Inc PTON. Shares of the exercise equipment and the media company closed 1.25% higher at $91.44 a share.
• Bought 43,026 shares — estimated to be worth $407,456 — in Blade Air Mobility Inc BLDE. Shares of the urban air mobility platform company closed 0.73% lower at $9.47 a share.