Cathie Wood Just Sold Shopify and Bought This Data Analytics Stock. Should You?
Late last week, sports data company Genius Sports (NYSE: GENI) plunged more than 10% in just one trading session. Interestingly, tech investor and CEO of Ark Invest, Cathie Wood, took advantage of the depressed stock price by adding 1.27 million shares to her position in the company.
On the same day, Wood also sold roughly 66,000 shares of e-commerce company . Perhaps this shouldn't be too surprising, as Wood has cut her position in Shopify by nearly half since April.
Nonetheless, it's curious why Genius cratered so much in just one day. Let's dig into what may have influenced the stock to drop so dramatically and determine if now is an opportunity to buy the dip.
Source Fool.com