Reported 9 days ago
Cathie Wood's ARK Funds sold 2.287 million shares of Unity Software for roughly $48 million after the company reported better-than-expected third-quarter results. Despite the revenue beat, Unity has faced challenges this year, including job cuts and leadership changes, contributing to a 53% decline in its stock price year-to-date. Wood, known for her investment in disruptive tech companies, continues to face criticism regarding her longer-term fund performance, which lags behind the S&P 500.
Source: YAHOO