07:56 AM EDT, 03/22/2024 (MT Newswires) -- Reddit ( RDDT ) shares were down by more than 4% in recent Friday premarket activity, a day after surging in their public debut amid media reports of big investors buying stakes in the company.

Cathie Wood's ARK Invest acquired 9,982 Reddit ( RDDT ) shares, Reuters reported, citing an email from the asset manager. The shares were added to ARK Next Generation Internet ETF ( ARKW ) and ARK Fintech Innovation ETF ( ARKF ) , the report said.

Separately, the value of OpenAI Chief Executive Sam Altman's existing stake in Reddit ( RDDT ) jumped by $200 million to more than $613 million after the debut, according to multiple reports.

Reddit ( RDDT ) and ARK did not immediately respond to MT Newswires' requests for comment.

Price: 48.1, Change: -2.34, Percent Change: -4.64