{"id":333386,"date":"2021-09-01T19:41:14","date_gmt":"2021-09-01T16:41:14","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/arks-cathie-wood-doubles-down-on-zoom-after-stock-sinks\/"},"modified":"2021-09-01T19:41:14","modified_gmt":"2021-09-01T16:41:14","slug":"arks-cathie-wood-doubles-down-on-zoom-after-stock-sinks","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/arks-cathie-wood-doubles-down-on-zoom-after-stock-sinks\/","title":{"rendered":"#Ark&#8217;s Cathie Wood doubles down on Zoom after stock sinks"},"content":{"rendered":"<p>&#8220;<strong>#Ark&#8217;s Cathie Wood doubles down on Zoom after stock sinks<\/strong>&#8221;<\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>Polarizing tech investor Cathie Wood doubled down on Zoom \u2014 even as the videoconferencing company\u2019s stock plummeted 17 percent on Tuesday on forecasts for slower growth.<\/p>\n<p>Wood on Tuesday bought more than $50 million of Zoom stock through two exchange-traded funds she manages at her investment firm Ark Invest, company records show.\u00a0<\/p>\n<p>Ark\u2019s flagship ARK Innovation ETF sn<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ed up 157,000 Zoom shares valued at about $45.5 million, company <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ark-funds.com\/wp-content\/fundsiteliterature\/holdings\/ARK_INNOVATION_ETF_ARKK_HOLDINGS.pdf\">records<\/a> show. The ARK Next Generation Internet ETF also added 37,000 shares worth roughly $11 million.\u00a0<\/p>\n<p>Wood \u2014 who has made a name for herself in recent years with bold and controversial bets on buzzy tech stocks like Tesla \u2014 shrugged off Zoom\u2019s warnings about slowing revenue growth that sent other investors fleeing on Tuesday.\u00a0<\/p>\n<p>In an earnings release and call, Zoom had told investors that it took in a record $1.02 billion in revenue during the second quarter, but added that it expected revenue to stay the same or even slightly decline during the quarter ending Sept. 30.<\/p>\n<p>Those results were enough to spook many investors who had grown used to quarter after quarter of blistering growth for Zoom during the pandemic.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/cathie-wood-robin-hood-02.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"A student takes online classes at home using the Zoom app.\" class=\"wp-image-19314918\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/cathie-wood-robin-hood-02.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/cathie-wood-robin-hood-02.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/cathie-wood-robin-hood-02.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>A student takes online classes at home using the Zoom app.<\/figcaption><figcaption><span class=\"credit\">REUTERS\/Albert Gea<\/span><\/figcaption><\/figure>\n<p>The company\u2019s stock fell 17 percent on Tuesday, closing at $289.50, according to MarketWatch data.<\/p>\n<p>Zoom shares had slightly recovered as of mid-day on Wednesday, trading up about 2 percent at $295.30.\u00a0<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>San Jose, California-based Zoom rocketed from an obscure firm at the beginning of 2020 to a household name just months later.<\/p>\n<p>The company\u2019s stock surged from just $67.28 at the beginning of 2020 to $559 last October. It has since declined by nearly half amid vaccinations and reopenings of offices. \u00a0<\/p>\n<p>Wood\u2019s signature strategy of heavily investing in trendy tech stocks like Zoom, Tesla, Coinbase and Robinhood resulted in mouthwatering returns that far outperformed the broader market for much of the pandemic. <\/p>\n<p>Her funds\u2019 performance has been more mixed in recent months amid a rebound of stalwart stocks like banks and oil companies.\u00a0<\/p>\n<p>Even as Wood doubles down on Zoom, some critics say her strategy leaves her sitting on a tech bubble that\u2019s poised to pop.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/cathie-wood-robin-hood-03.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Zoom's stock fell 17 percent on Tuesday, closing at $289.50.\" class=\"wp-image-19314932\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/cathie-wood-robin-hood-03.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/cathie-wood-robin-hood-03.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/cathie-wood-robin-hood-03.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Zoom\u2019s stock fell 17 percent on Tuesday, closing at $289.50.<\/figcaption><figcaption><span class=\"credit\">Alamy Stock Photo<\/span><\/figcaption><\/figure>\n<p>In August, Michael Burry \u2014 an investor known for reaping a windfall through a \u201cbig short\u201d against the housing market in 2008 \u2014 revealed that he was now betting against Wood\u2019s ARK Innovation fund.\u00a0<\/p>\n<p>On <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>, Wood countered, \u201cI do not believe that [Burry] understands the fundamentals that are creating explosive growth and investment opportunities in the innovation space.\u201d\u00a0\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2021\/09\/01\/arks-cathie-wood-doubles-down-on-zoom-after-stock-sinks\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Ark&#8217;s Cathie Wood doubles down on Zoom after stock sinks&#8221; Polarizing tech investor Cathie Wood doubled down on Zoom \u2014 even as the videoconferencing company\u2019s stock plummeted 17 percent on Tuesday on forecasts for slower growth. Wood on Tuesday bought more than $50 million of Zoom stock through two exchange-traded funds she manages at her&#8230;<\/p>\n","protected":false},"author":1,"featured_media":333387,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/cathie-wood-robin-hood-hp.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[115220,73711,72388,70360,70844],"class_list":["post-333386","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-9-1-21","tag-investments","tag-stock-market","tag-wall-street","tag-zoom"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/333386","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=333386"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/333386\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/333387"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=333386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=333386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=333386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}