Cathie Wood's Ark Funds Make Small Bets on Reddit's Hot IPO

Cathie Wood's Ark Investment Management funds purchased small positions in Reddit's stock during its market debut
Specifically, the ARK Next Generation Internet ETF bought 5,914 shares and the ARK Fintech Innovation ETF bought 4,068 shares
Wood and Ark remain popular with individual investors due to past successful bets on stocks like Tesla
Reddit's IPO was the 4th largest on a US exchange in 2024, amidst a revival in new listings
Reddit's stock price rallied 48% on its first day but pulled back slightly the next day