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:
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