Cathie Wood's Ark Invest Continues To Sell Shopify Shares Amid Q2 Ripples

On Thursday, Cathie Wood-led Ark Invest made significant moves in the market, with a notable decision to sell shares of Shopify Inc SHOP. 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 ETF ARKK, ARK Next Generation Internet ETF ARKW, 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.

See Also: Cathie Wood’s Ark Invest Sells More Tesla Stock, Acquires Shares Of Flying Taxi Company

Other Key Trades:

• Ark Invest bought 657,982 shares of UiPath Inc PATH. The transaction was made through multiple ETFs like ARKK, ARKQ, and ARKF. The transaction was valued at $9.6 million.
• Ark Invest acquired 170004 shares of Adaptive Biotechnologies ADPT through ARK Genomic Revolution ETF ARKG.
• Ark Invest purchased 37868 shares of Recursion Pharmaceuticals RXRX through ARKG.
• Ark Invest sold 10868 shares of Exact Sciences Corp EXAS through ARKG.
• Ark Invest offloaded 48019 shares of Schrodinger Inc SDGR through ARKG.

Read Next: Cathie Wood’s Ark Invest Sells More Tesla Stock, Acquires Shares Of Flying Taxi Company