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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
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 77.6% this year. It was down 2.4% to $32.04 in trading Thursday.
Write to Joe Woelfel at joseph.woelfel@barrons.com