Cathie Wood buys the Zoom dip, invests over $56 million

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(Reuters) – Star investor Cathie Wood’s funds have scooped up $56.5 million worth of shares in Zoom Video Communications (NASDAQ:ZM) Inc as the video conferencing company’s stock registered their worst day in months on Tuesday after warning on slowing demand.

Ark Invest added about $45.5 million shares of the stay-at-home beneficiary in the flagship ARK Innovation ETF and about $11 million in the ARK Next Generation Internet ETF, according to an email from the asset manager headed by Wood.

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