Cathie Wood's Ark Invest Buys More Shares Of This Meta Platforms Competitor

On Wednesday, Cathie Wood’s Ark Invest made a significant move by purchasing additional shares of Pinterest Inc PINS.

The PINS Trade

Ark Invest’s Fintech Innovation ETF ARKF acquired 26,925 shares of Pinterest, a popular social media website and a rival of platforms like Meta Platforms-owned Instagram and X. This move comes amidst a mixed financial picture for Pinterest, but with promising user growth as reported in their recent fourth-quarter earnings. The value of this trade, based on the closing price of $35.28 on the same day is $949,914.

This isn’t the first time Ark Invest has shown interest in Pinterest. Back in February, the investment firm made headlines when it purchased over $23 million worth of Pinterest shares, demonstrating its confidence in the company’s potential despite the Q4 turbulence. This recent purchase further solidifies Ark Invest’s position in Pinterest.

See Also: CHUCK Meme Coin That Aims To ‘Make Ethereum Great Again’ Skyrockets 25,800% Hours After Launch, Leaving Dogecoin, Shiba Inu In The Dust

Other Key Trades:

Ark Invest sold shares of Twilio Inc TWLO from its Fintech Innovation ETF. The firm also bought shares of Verve Therapeutics Inc VERV and Personalis Inc PSNL stock for its Genomic Revolution ETF

From its Next Generation Internet ETF, Ark Invest sold shares of Twilio Inc and bought Datadog Inc DDOG stock.

Read Next: Bitcoin, Ethereum, Dogecoin Spike Marking An End To Bullish Q1 2024 — Analyst Says King Crypto Could Ascend To $75K Mark If It Breaches Neckline Resistance


Engineered by Benzinga Neuro, Edited by Shivdeep Dhaliwal


The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.


Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CryptocurrencyNewsETFsARK InvestARK Invest ETFsArk Invest ManagementCathie WoodpinterestShivdeep Dhaliwalsocial mediaWood
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!