Cathie Wood Buys $13.5M In Smart Glasses Supplier Vuzix On Dip
Cathie Wood-led Ark Investment Management bought 773,400 shares in Vuzix Corp (NASDAQ:VUZI) on Friday, estimated to be worth about $13.5 million.
Shares of Vuzix, which makes smart glasses for the consumer, defense, security and enterprise markets, fell 8.54% to $17.46 on Friday. The stock has a 52-week high of $32.43 and a 52-week low of $2.07.
The investment firm bought the shares via the Ark Next Generation Internet ETF (NYSE:ARKW) and also holds the shares of the company in the Ark Autonomous Technology & Robotics ETF (BATS:ARKQ).
See Also: EXCLUSIVE: Vuzix CEO Talks Product Advantages, Next-Gen Smart Glasses
Together, the two ETFs held 2.53 million shares, worth about $48.38 million as of Friday’s trade.
The wearable and augmented reality technology company earlier this month told Benzinga that it will, in 2021, introduce a next-generation version of its smart glasses that “look and feel like a regular pair of fashion-forward glasses.”
Some of the other key Ark Invest sells on Friday included Pinduoduo Inc (NASDAQ:PDD) and buys included Zoom Video Communications Inc (NASDAQ:ZM) and the SPAC Jaws Spitfire Acquisition Corp (NYSE:SPFR).
Photo courtesy of Vuzix.