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 (NASDAQ: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 (NYSE:ARKK), ARK Next Generation Internet ETF (NYSE:ARKW), and Ark Fintech Innovation ETF (NYSE: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 (NYSE: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 (NASDAQ:ADPT) through ARK Genomic Revolution ETF (BATS:ARKG).
• Ark Invest purchased 37868 shares of Recursion Pharmaceuticals (NASDAQ:RXRX) through ARKG.
• Ark Invest sold 10868 shares of Exact Sciences Corp (NASDAQ:EXAS) through ARKG.
• Ark Invest offloaded 48019 shares of Schrodinger Inc (NASDAQ:SDGR) through ARKG.

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