Ark Invest, a prominent investment firm, recently acquired over a million shares of the online education platform 2U. The purchase was split across three of Ark’s Exchange-Traded Funds (ETFs), with the bulk of the acquisition coming from Ark Innovation, which purchased more than 800,000 shares. Ark Next Generation Internet bought just under 150,000 shares, while Ark Autonomous Tech and Robotics acquired 110,568 shares. Despite this recent purchase, 2U remains one of the smallest holdings for Ark across all three funds.
2U’s stock has been on a downward trend over the past few years. In February 2021, it reached a peak of $55 per share, but has since declined to a 52-week high of just $13.15. The stock took a further hit when it fell 24% following a weak earnings report. The company reported an 8% decrease in revenue compared to the previous year, with an adjusted net loss of 18 cents per share. While 2U affirmed its revenue outlook for the year, it also projected a net loss of $220 to $225 million for the full year 2023.
Keywords: Ark Invest, online education platform, 2U, shares, acquisition, investment, ETFs, stock, downward trend, earnings report, revenue, net loss.
Hashtags: #ArkInvest #2U #onlineeducation #stockmarket #investment #ETFs #earningsreport #revenue #netloss
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