Twitter’s 1.3 million shares sold after it’s disappointing ‘First Quarter Sales’

Cathie Wood's firm saw potential, twitter shares rise first time after October dips. Ark buys shares worth $71 million dollars

After Twitter’s disappointing performance in the first quarter sales, finally, an investing firm invests by buying the shares of around $71 million worth. Cathie Wood’s investing firm, called ‘Ark Investment Management’ scooped around 1.3 million shares of social media network – Twitter, worth $71 million dollars.

Twitter performed below satisfactory dip in its ‘first-quarter sales’, since October last year.

Ark Investment Management, recently, saw a ‘buying’ opportunity in Twitter, it performed worst since October 2020, scooped-up around1.3 million shares of the social media network estimated about $71 million, on this Friday, as the stock plunged up by15%, according to an email on the firm’s trading activity, as per data reported by Bloomberg.

Ross Mayfield, Investment Strategy Analyst at Robert W Baird & Co, supported by saying “Twitter fits well with Ark and Cathie Wood’s investment style. It’s on-brand to the extent that it’s in the tech space.”

Further, “It’s a new Internet-oriented company. But it is different from some of the moonshot companies they really like. Twitter is a tech company, but it’s kind of just your standard social media.” she added.

After the stock plunged in this week, of the famous social media giant Twitter, soon after the company executives said sales were slowed down hugely, in the first months of the year.

Anyway, it gained back its 28% revenue, it lagged some by of the digital advertising giants such as Facebook, and Alphabet as well.

Cathie Wood’s ARK was seen lowering by around1.8% this morning, as reported by Reuters. The fund was just notched by the first month of the outgoing, letting lose around $76 million of its money, according to the data compiled by Bloomberg, since September 19′