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ARK Invest: Cathie Wood takes advantage of the fall in the price of Zoom and buys shares for more than 130 million dollars

Cathie Wood

The investor relies exclusively on disruptive technologies: genomics, fintech, space travel, robotics.

(Photo: Ark Invest)

Düsseldorf Zoom has not had the “corona winner” label for a long time: the video conferencing provider’s share has lost around half its value over a twelve-month period. On Tuesday, the price fell briefly below the $ 200 mark for the first time since June 2020.

While experts are discussing whether the price decline is exaggerated or not, one investor has reacted: Cathie Wood used the loss of 14.7 percent on Tuesday to buy almost 650,000 shares with her Ark funds. Her value on a closing price basis: $ 133 million.

“We believe that the world’s communications system will be replaced for the first time in decades,” Wood told CNBC. “People just think of Zoom as a video chat service. It is not, it becomes a unified communication system. “

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Reference-www.handelsblatt.com

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