An attendee plays a game at the Unity Technologies booth at the Game Developers Conference in San Francisco.
David Paul Morris/Bloomberg
Cathie Wood’s ARK Invest purchased more than 1 million shares of Unity Software after the stock slumped following its $4.4 billion acquisition of IronSource .
The ARK Innovation ETF (ticker: ARKK) bought 884,587 shares of Unity (U), the ARK Autonomous Technology & Robotics ETF (ARKQ) bought 62,320 shares, ARK Next Generation Internet ETF (ARKW) purchased 78,200 Unity shares, and ARK Space Exploration & Innovation ETF (ARKX) scooped up 16,724 shares.
Shares of Unity Software dropped about 17.5% on Wednesday after the game development platform said it was acquiring IronSource (IS), the app monetization company, for $4.4 billion in an all-stock deal.
Unity also lowered its guidance for full-year revenue to a range of $1.3 billion to $1.35 billion from previous expectations of $1.35 billion to $1.425 billion.
Wood’s ARK Invest acquired 1,041,831 shares of Unity. At Wednesday’s closing price for Unity of $32.82, the purchase amounted to more than $34.1 million.
The stock has declined 77% this year. It was down 1.1% to $32.47 in premarket trading Thursday.
Write to Joe Woelfel at joseph.woelfel@barrons.com
Source: finance.yahoo.com