Invest Ark was a large investor in the electric vehicle driver Tesla Inc TSLA and its CEO Elon Musk. The Ark Invest founder shared thoughts on another company Musk could soon lead.
What happened: Ark Invest and Founders Cathie Wood have been optimistic about Tesla for years, with Wood is known to set a price target that was higher than their peers, which was eventually achieved.
With a pending acquisition the social media platform Twitter Inc TWTR Musk asked Wood for her thoughts on what the acquisition could mean and whether she was concerned about Musk’s possible time commitment.
“We are prolific users of Twitter, our most productive platform is Twitter,” Wood said in one interview with Yahoo Finance.
Wood said Musk could work closely with the former Twitter CEO and co-founder Jack Dorsey and open the ecosystem.
“I’m pretty excited to see what Elon will do,” she said.
Wood noted that Musk could boost the Twitter ecosystem and remove censorship. When asked if she was concerned about the lack of censorship being an issue on the platform, Wood said no.
“We can unfollow people if they misbehave, that’s our choice.”
Wood said there’s a lot of wisdom on Twitter and she’s tired of the “nonsense” on some of the other social media platforms.
“Twitter, we believe, will give us more tools to filter out nonsense and get straight to the point.”
Related link: Cathie Wood’s confidence in Tesla couldn’t be greater
Why it matters: Tesla is the greatest keep in three of the Ark Invest ETFs, accounting for 9.3%, 8.8%, and 10.4% Ark Innovation ETF ARKK, Ark Next Generation Internet ETF ARKW and the Ark Autonomous Technology & Robotics ETF ARCQrespectively.
Wood is the second Ark Invest executive to recently comment on Musk’s pending acquisition. Ark Invest Chief Futurist Brett Winton recently participated in Twitter reveal his views.
“Status quo ante when @elonmusk says the ‘wrong thing’ and that gets removed from the platform…
