Cathie Wood Snaps Up $63.8 Million in Facebook as Social Media Giant Sets Metaverse Ambitions

A woman holds a smartphone with the Facebook logo in front of a displayed Facebook's new rebrand logo Meta in this illustration picture taken on Oct. 28, 2021. Dado Ruvic/Illustration/Reuters

Cathie Wood’s money managing firm Ark Invest on Friday raised its exposure in Facebook Inc., a day after the Mark Zuckerberg-led social media company said it has changed its name to Meta to reflect its ambition beyond social media.

The popular money managing firm bought 197,259 shares—estimated to be worth $63.83 million—in the Meta stock.