Cathie Wood's ARK Invest scoops up nearly 10,000 Reddit shares in debut

[March 22, 2024]  (Reuters) - Popular investor Cathie Wood's ARK Invest bought nearly 10,000 shares of Reddit in the social media platform's strong market debut on Thursday, an email from the asset manager showed.

Cathie Wood, CEO of Ark Invest, speaks during an interview on CNBC on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., February 27, 2023. REUTERS/Brendan McDermid/File Photo

A total of 9,982 shares of the loss-making company was added to ARK Next Generation Internet ETF and ARK Fintech Innovation ETF, 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.

(Reporting by Medha Singh in Bengaluru; Editing by Savio D'Souza)

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