Splunk Stock Slumps and Cathie Wood’s ARK Buys the Drop

Cathie Wood’s Ark Next Generation Internet ETF bought 119,677 shares of Splunk connected Monday aft the banal tumbled much than 18% pursuing the departure of the bundle company’s CEO. 

Splunk (ticker: SPLK) closed Monday astatine $137.38, down 18.1%, aft the institution said CEO Doug Merritt was stepping down and would beryllium replaced connected an interim ground by Chairman Graham Smith. No crushed was fixed for Merritt’s resignation, which comes 7 months aft its main exertion officer, Tim Tully, resigned.

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