Cathie Wood Loads Up On Snapchat And This Social Media Stock On The Dip

Cathie Wood’s Ark Invest on Friday bought 230,323 shares — estimated to be worth $12.7 million — in $Snap Inc(SNAP.US)$ , on the dip.Shares of the social media company, which are up 11.2% so far this year, sunk 26.7% lower at $55.14 a share on Friday.
The $ARK Next Generation Internet ETF(ARKW.US)$ bought shares in Snap on Friday. Other than ARKW, the $ARK Fintech Innovation ETF(ARKF.US)$ too owns shares in the social media company.The two ETFs held a total of 954,518 shares — worth $71.69 million, ahead of Friday’s trade.