Cathie Wood’s investment firm Ark Invest on Thursday snapped up 829,907 shares — estimated to be worth $55.34 million — in Twitter Inc (NYSE:TWTR), on the day the social media giant began letting users send and receive tips using Bitcoin (CRYPTO: BTC) as part of a bigger push to help users make money from the service.
Twitter shares jumped 3.80% higher on Thursday to close at $66.69.
The popular investment firm already owned shares in the Jack Dorsey-led social media company. Just a month before booking some profits in August, Ark Invest had snapped up over one million shares in Twitter after Dorsey told investors that apex cryptocurrency Bitcoin will be a “big part” of the social media company’s future.
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Dorsey is also the founder of payments company Square Inc (NYSE:SQ), which is heavily invested in the apex cryptocurrency.
Twitter is first offering Tips on iOS and then expand it for users on Android over the coming weeks.
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On Thursday, Ark Invest deployed the Ark Innovation ETF (NYSE:ARKK) and the Ark Next Generation Internet ETF (NYSE:ARKW) to buy shares in the San Francisco, California-based company. No other Ark ETF holds a stake in Twitter.
The two ETFs held a total of 11.95 million Twitter shares, worth $768 million, ahead of Thursday’s trade.
Here are a few other key Ark Invest trades from Thursday:
- Sold nearly 1.84 million shares — estimated to be worth $52.86 million— in Palantir Technologies Inc (NYSE:PLTR) on the day shares of the software company soared. PLTR shares closed 4.89% higher at $28.77 on Thursday.
- Bought 154,978 shares — estimated to be worth $3 million — in Genius Sports Ltd (NYSE:GENI), on the day shares of the company closed 1.13% higher at $19.77.