Is This Cathie Wood Favorite an Acquisition Target?
Remember when the metaverse was all the rage? Investors poured into gaming companies in particular as enthusiasm around virtual reality (VR) and other metaverse applications reached a fever pitch.
One stock that witnessed a meteoric rise was Unity Software (NYSE: U), a staple in Cathie Wood's highly tracked portfolio that could represent a buying opportunity, as it now trades 80% below all-time highs.
But investors might want to approach Unity stock with caution. The company is in a transition as CEO John Riccitiello resigned earlier this month after a botched attempt at new pricing structures. Given the number of questions around the company's forward path, some on Wall Street are speculating that an old suitor, AppLovin (NASDAQ: APP), might sense desperation and pounce on the opportunity to acquire Unity.
Source Fool.com
