Cathie Wood’s ARK Buys 1 Million Shares of Unity After Its Purchase of IronSource

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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 [email protected]