Cathie Wood-led Ark Investment Management on Monday sharply lowered its exposure in Twitter Inc (NYSE:TWTR) as it dumped 517,882 shares — estimated to be worth $18.4 million based — in the social media company that it was bullish on until late last year.
Twitter stock closed 0.74% higher at $35.5 a share on Monday. Shares of the company have been under pressure lately and are down 22.3% since Parag Agarwal was named CEO on Nov. 29.
