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11 October 2022 | Other

Katie Wood buys another Adobe stake

Adobe Inc

A month ago, as Bloomberg reported, Wood's Ark Next Generation ETF acquired Figma Inc., an online interface development service. The purchase is estimated to have cost $20 On Monday, news broke that Wood's Ark Next Generation had made another purchase, but this time the fund acquired more than 20.000 Adobe shares, 23,605 to be precise.

It’s worth noting that this isn’t the first purchase of Adobe stock, the fund had already bought 22,874 shares on September 19. This came after Adobe experienced its steepest one-day decline in a decade.

Adobe, which has been adored by Wall Street for 10 years, fell sharply in value after its shares began to sell off amid the Figma purchase. Adobe's price has more than halved.

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