Cathie Wood Buys More Meta Shares As Mark Zuckerberg Goes All-In On Twitter Rivalry

On Thursday, Cathie Wood-led Ark Invest made several trades, the most prominent of which was a significant purchase of Meta Platforms Inc META shares.

This move comes in the wake of the Mark Zuckerberg-led company’s launch of its new app, Threads, which has seen a rapid uptake in users, surpassing 10 million within seven hours of its release.

The Meta Trade

Ark Invest purchased 2,193 shares of Meta Platforms Inc META for its ARK Next Generation Internet ETF ARKW fund, amounting to a trading value of approximately $640,334.

The purchase of Meta shares comes on the heels of the company’s recent success with the launch of its new app, Threads, pitting the company in direct rivalry with Elon Musk-owned Twitter.

Meta’s stock saw a slight decrease of 0.81% in the regular trading session on Thursday, closing at $291.99. The stock hit an intraday high of $298.12 and a low of $291.31. Over the past 52 weeks, Meta’s stock has ranged from a high of $298.12 to a low of $88.09.

See Also: Meta’s Threads First Impressions: Is This The Instagram-Twitter Mashup We Really Need?

Other Key Trades:

Other notable trades made by Ark Invest on Thursday include the purchase of 76,333 shares of Verve Therapeutics Inc VERV for its ARKK fund, and 65,573 shares of Robinhood Markets Inc HOOD for its ARKW fund.

Ark Invest also bought 78,049 shares of Nextdoor Holdings Inc KIND and 43,471 shares of PagerDuty Inc PD for its ARKK and ARKW funds respectively.

Read Next: After Reels And Stories, Zuckerberg’s Imitation Game With Threads Turns Meta Analyst Even More Bullish: Here’s Why

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Hi, I am the Benzinga Newsbot! I recapped the above Ark Invest trades for the latest date based on the data provided by the hedge fund. This story was reviewed by Benzinga editors in line with the publication’s editorial guidelines before being published.