Cathie Wood’s ARK buys the dip on Zoom, scooping up $17.5 million in stock

Cathie Wood’s ARK Investment scooped up more than $17.5 million worth of Zoom Video Communications Inc. shares
ZM,
-3.55%
Tuesday, when the stock sold off 8% after the company’s latest earnings report. The ARK Innovation ETF
ARKK,
-1.12%
bought up 230,964 shares of Zoom, worth $15.2 million based on Tuesday’s closing levels. The Ark Next Generation Internet ETF
ARKW,
-1.23%
added 36,168 shares of Zoom, worth $2.4 billion as of Tuesday’s close. ARK disclosed the purchases in a daily trade notice posted to its website, though it didn’t specify the price at which it bought stock. ARK disclosed the purchase of about $4 million worth of Palantir Technologies Inc.
PLTR,
-3.92%
shares a day earlier.