LGVW - Why Longview Acquisition Stock Popped Today
Shares of Longview Acquisition (NYSE: LGVW) have popped today, up by 16% as of 1:15 p.m. EST, after ARK Invest bought approximately 460,000 shares for its Ark Genomic Revolution ETF (NYSEMKT: ARKG) . Longview Acquisition is a special purpose acquisition company ( SPAC ) that recently announced that it is merging with Butterfly Network , which makes a portable ultrasound device and accompanying app.
Longview, which will soon change its ticker symbol to BFLY after the merger closes, now represents a modest 0.17% of the exchange-traded fund ( ETF ), but ARK CEO and CIO Cathie Wood has a history of continuing to add to new positions after initiating a small stake.
Image source: Butterfly Network.
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Why Longview Acquisition Stock Popped Today