Cathie Wood Loads Up $10.5M In Shopify And Adds To Stake In This Self-Driving Company


Ark Invest on Thursday bought chunks of shares of Canadian e-commerce company Shopify, Inc. SHOP and some in TuSimple Holdings, Inc. TSP.

Ark's flagship fund ARK Innovation ETF ARKK bought 342,933 shares of Shopify, valued at $10.5 billion. The e-commerce company has seen its stock plummet about 78% year-to-date amid macroeconomic uncertainty and post-pandemic normalization.

With the latest purchases, Shopify now makes up about 2.68% of ARKK's holdings.

Related Link: Cathie Wood Concerned That $22,500 Is Bitcoin's New Resistance

ARKK also added to its position in self-driving trucking company TuSimple. On Thursday, the Cathie Wood run ETF purchased 307,147 shares worth $2.6 million. This represented a back-to-back purchase, with the fund buying shares worth $150,000 in TuSimple on Wednesday. TuSimple now accounts for 0.85% of the ARKK.

Price Action: ARKK closed Thursday's session down 2.07% at $43.10, according to Benzinga Pro data.

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Posted In: Long IdeasBroad U.S. Equity ETFsSmall CapTrading IdeasETFsARK InvestCathie Wood
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