Twitter Gains As Cathie Wood’s Ark Tops Holding By

© Reuters.

By Dhirendra Tripathi – Twitter (NYSE:) shares rose nearly 5% Tuesday following a disclosure by Cathie Wood’s Ark Investment that it added to its holdings with another 266,865 shares.  

The stake constitutes 0.0695% of ARK Innovation ETF (NYSE:). At Monday’s closing price, the fresh buy would have been valued at roughly $17.1 million.

Ark reveals its trades daily through Friday but they are not comprehensive lists for Ark’s ETFs and exclude initial and secondary public offering transactions and ETF creations and redemptions.

Wittingly or unwittingly, Wood has carved a legend for herself with her bullish calls on many companies she sees as disrupting the status quo like those in biotech and renewable energy. She is most famous for her ultra-bullish calls on Tesla (NASDAQ:) since 2019, when few trusted the Elon Musk company to even survive.

Ark has a target price of $3000 for Tesla by 2025.

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