ARK Buys More Zoom and Regeneron’s Asthma Drug Gets Reviewed for FDA Approval
According to Zoom, they are the leader in modern enterprise video communications, with an easy, reliable cloud platform for video and audio conferencing, chat, and webinars.
Cathie Woods is a portfolio manager known for being the ultimate Tesla bull. She went viral in 2019 for telling investors the stock was going to $4,000. She manages the ARK ETF which has had stellar performances over the past few years.
ARK Investment Management just bought 255,621 shares of Zoom Media yesterday for its flagship ARK Innovation ETF “ARKK”. The investment brought Zoom up to 0.4048% of the fund’s total assets. Zoom is up more than 10% year to date and on Friday ARKK saw its 2nd highest level of inflows ever at $464M.
Regeneron is a leading biotechnology company that invents life-transforming medicines for people with serious diseases.
The FDA has just accepted to review Regeneron’s “Sanofi’s Dupixent application” for children with asthma. Sanofi’s Dupixent is an add-on treatment for kids ages 6 to 11 years with moderate-to-severe asthma. The FDA will release their decision regarding the drug on October 21.
Regeneron’s stock did poorly down 1.79% to $446.73 on Wednesday, moreover, the stock underperformed when compared to its competitors.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.