Cathie Wood’s Ark Invest Continues To Sell Shopify Shares Amid Q2 Ripples – UiPath (NYSE:PATH), Shopify (NYSE:SHOP), ARK Fintech Innovation ETF (ARCA:ARKF), ARK Genomic Revolution ETF (BATS:ARKG), ARK Next Generation Internet ETF (ARCA:ARKW), Exact Sciences (NASDAQ:EXAS), Recursion Pharmaceuticals (NASDAQ:RXRX), Schrodinger (NASDAQ:SDGR), ARK Innovation ETF (ARCA:ARKK) – Benzinga

Posted on August 22, 2023 by Design in Design Innovation | 0 Comments

On Thursday, Cathie Wood-led Ark Invest made significant moves in the market, with a notable decision to sell shares of Shopify IncSHOP. This comes in the wake of Shopify’s recent volatility following its Q2 results.

The Shopify Trade: Ark Invest’s decision to sell Shopify shares across various ETFs is a continuation of its recent trading behavior. Earlier this week, Ark Invest also made a notable decision to sell Shopify shares. All in all, Ark sold $8.9 million of Shopify shares through ARK Innovation ETFARKK, ARK Next Generation Internet ETFARKW, and Ark Fintech Innovation ETF ARKF. Shopify shares closed at $53.22 on Thursday.

Shopify reported a 31% year-over-year increase in revenue, surpassing consensus estimates. Despite these positive figures, Shopify shares experienced a dip in after-hours trading, reflecting the market’s mixed sentiment.

Other Key Trades:

Engineered by Benzinga Neuro, Edited by Shivdeep Dhaliwal

The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.