The CEO of Ark Invest is Cathie Wood.
Patrick T. Fallon is a photographer.
After the video conferencing firm fell to a 17-month low, a woman bought $130 million worth of stock.
ARK Innovation and ARK Next Generation Internet, two of Wood's ETFs, purchased nearly 650,000 shares in Zoom, which is down 39% this year and 23% this quarter.
Ark Invest's chief executive and chief investment officer, Wood, runs funds that focus on disruptive innovation. She hit the headlines when she said she would back the stock to hit $4,000 and $500,000 within five years.
Ark's bet coincides with the sell-off ofTesla. The debate over whether Musk's company's stock is overvalued has intensified as it has sold more than two billion shares.
Wood talked about her investing philosophy in an interview with Barron's.
She said that they usually sell when one of the stocks in their portfolio has gone up by 20% or more. Portfolio management is just that.
If one stock has done well relative to the others in the portfolio, we take some profits and put them into stocks that have been neglected or punished.
Business Insider has an original article.
