Cathie Wood's Ark Dumps 3.9 Million Zillow Shares

[mahatmakanejeeves]

Bloomberg

Cathie Wood’s Ark Dumps 3.9 Million Zillow Shares

Georgina Mckay
Wed, November 3, 2021, 11:12 PM

In this article:

ZG
-22.95%

(Bloomberg) -- Cathie Wood’s exchange-traded funds sold 3.9 million shares in Zillow Group Inc. on Wednesday as the stock’s rout deepened -- a day after buying 288,813 of the securities.

Zillow’s stock has suffered as investors question its strategic goal of shifting from a company known for real estate listings to one that gets a bigger piece of the lucrative business around property transactions.

Ark’s daily trading updates provided figures for the portfolio changes without specifying buying and selling prices. They only show active decisions by the management team and don’t include creation or redemption activity caused by investor flows. For that reason, the firm’s exact trading activity may vary.

{snip}

[Tomconroy]

1. She wasn't doing very well this year the last I heard. Maybe not

the next Bill Miller.

[mahatmakanejeeves]

2. Legg Mason Capital Management Value Trust did pretty well for a while. Bill Miller loved WaMu.

And then the bottom fell out.

Full disclosure: yeah, I bought shares of WaMu too. I did not own any LMCMVT.

[trof]

3. I didnt know zillow HAD a stock.

I think their home price estimates are too high.
According to them, my home tops out at one mil.
I would take that in a New York minute and leave the furniture.