Ark Invest emails out its daily trades, and for 2020-11-30, there is an entry that is quite surprising to me:
28 ARKW 11/30/2020 Sell WORK 83088V102 SLACK TECHNOLOGIES INC 1,424,300
Now, ARKW has 2,575,137 shares of WORK remaining.
However, according to 3 major media outlets -- Forbes, CNBC, and Business Insider -- today, Salesforce is expected to price Slack at a premium above its current market cap.
(I would very much like to link the articles, but this subreddit bans Forbes and possibly CNBC for reasons that I do not understand. In any case, this is the same information that 3 major media outlet reported today. If you have a better source, please post it!)
Why would ARKW sell 36% of its position in WORK a day before the acquisition announcement, when Salesforce is expected to pay more for the shares than the current market price?
Does Ark Invest expect that the deal might not go through?
Submitted November 30, 2020 at 09:02PM by davidhenrysmith https://ift.tt/36qLknc
