The ARK Innovation ETF ( ARKK) picked up 157,233 shares worth roughly $45.5 million, while ARK Next Generation Internet ETFВ ( ARKW) purchased 36,847 shares for about $11 million.Д«ack on Wall Street, analysts skew more toward Wood's view of Zoom вЂ“ albeit with a considerable amount of dissent. The CEO responded to Zoom stock's initial 17% plunge by purchasing roughly 200,000 shares for ARK's flagship ETFs. Cathie Wood Buys the Dip in ZoomДЄs much as Zoom bulls might take comfort in Argus Research's take, nothing walks the walk like capital. 'Although the company is competing against some large industry incumbents, it may have just the right mix of innovative technology and strong customer service to take share from these larger competitors,' Bonner adds.

Additionally, it aims to become a more broad-based communications platform by enabling third-party developers to create a new applications ecosystem. To that end, it's rolling out product extensions, such as Zoom Phone Appliance. True, ZM can't influence secular demand for its communication services, but it can tilt things in its favor, Bonner notes. The central question for Zoom is whether the pandemic created a secular change in which employees continue to work from home at least part-time - or whether they are forced to return to their offices en masse, the analyst says. 11 Best Tech Stocks for the Rest of 2021.

Zoom stock price