Benzinga – On Wednesday, Cathie Wood’s Ark Invest made a significant move by purchasing additional shares of Pinterest Inc (NYSE:PINS).
The PINS Trade
Ark Invest’s Fintech Innovation ETF (NYSE:ARKF) acquired 26,925 shares of Pinterest, a popular social media website and a rival of platforms like Meta Platforms-owned Instagram and X. This move comes amidst a mixed financial picture for Pinterest, but with promising user growth as reported in their recent fourth-quarter earnings. The value of this trade, based on the closing price of $35.28 on the same day is $949,914.
This isn’t the first time Ark Invest has shown interest in Pinterest. Back in February, the investment firm made headlines when it purchased over $23 million worth of Pinterest shares, demonstrating its confidence in the company’s potential despite the Q4 turbulence. This recent purchase further solidifies Ark Invest’s…
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