This tech firm dropped 15% last month.
The stock, debuting at $75 a share in 2020, quickly hit a high of $175, stabilized, and in 2021 hit a high of $210. But from that point, shares of Unity have sloped downward; by 2022, it was trading in the $30 range.
Last month, the stock took a tumble, falling around 15%; at last check they were trading at $29.44. The reason behind the tumble was a blog the company posted on Sept. 12, instituting a new up-front install fee on games when downloaded by users.After 10 days of backlash, Marc Whitten, the head of Unity Create, wrote to the community to address those concerns and detailing new changes to these fees.
Ark Invest picked up a total of 213,733 shares of Unity Oct. 4, spread across three of the company's ETFs: Innovation, Next Gen Internet and Autonomous Tech and Robotics. Based on the tech firm's closing price, the move was valued at more than $6 million.Cathie Wood dumps nearly $30 million worth of two beloved tech giants
Ark Innovation was responsible for the biggest share of the purchase, picking up close to 160,000 shares. This boosted Ark Innovation's holding to 8.3 million shares, valued aat more than $240 million and weighted at 3.63% of the fund. Ark's Unity holding is the fund's 10th-largest holding. Unity brought in $533 million in revenue for the second quarter of the year, above the company's guidance of $520 million. The company posted third-quarter revenue guidance of $550 million.Business
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