(Bloomberg) — Depend Cathie Wooden as a Reddit Inc. investor.Most Learn from BloombergWood’s Ark Funding Administration took small positions within the social media platform because it rallied 48% in its market debut, buying shares within the San Francisco-based firm for 2 of its exchange-traded funds.The ARK Subsequent Technology Web ETF (ARKW) purchased 5,914 shares, and the ARK Fintech Innovation ETF (ARKF) scooped up 4,068 shares, in line with a March 21 buying and selling replace.Whereas ARK property have slumped because the peak of its recognition in 2021, famously profitable bets on the likes of Tesla Inc. and AI imply Wooden nonetheless retains an enormous following of particular person traders on the lookout for her subsequent huge concept.Learn extra: Reddit Soars 48% in Debut as AI Pitch Will get Heat ReceptionReddit’s IPO is the fourth-largest on a US trade in 2024, including to a revival in first-time share gross sales after two of the slowest years in a decade. The inventory’s rally paused on Friday because the shares slipped 0.9%.(Updates inventory transfer in paragraph 5.)Most Learn from Bloomberg Businessweek©2024 Bloomberg L.P.