Cathie Wood Sells Shopify Shares Worth $9.2M — Ark Goes Shopping This Dutch Payment Company's Stock Instead

On Monday, August 21, 2023, Cathie Wood-led Ark Invest made significant moves in the market, with a notable decision to sell $9.2 million worth of shares of Shopify Inc (NYSE:SHOP). This comes in the wake of Shopify's recent volatility following its Q2 results.

The Shopify Trade: Ark sold 170335 shares of Shopify through ARK Next Generation Internet ETF (NYSE:ARKW) and Ark Fintech Innovation ETF (NYSE:ARKF). The transaction was valued at $9.2 million, based on Shopify stock’s closing price of $53.93 on Monday.

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.

Wood-led Ark Invest also made a significant investment in Adyen N.V. (OTC:ADYEY) (OTC:ADYYF), a Dutch payment company, on Monday. Ark Invest bought 2889 shares of ADYEN NV (ADYEN.AS) through ARKF and 733,462 shares through ARKW.

See Also: Is Nvidia Overpriced? Cathie Wood’s Ark Invest Points To 3 Other Stocks

Other Key Trades:

• Ark Invest bought 7017 shares of CRISPR THERAPEUTICS AG (NASDAQ:CRSP) through ARK Genomic Revolution ETF (BATS:ARKG).
• Ark Invest bought 32165 shares of ADAPTIVE BIOTECHNOLOGIES (NASDAQ:ADPT) through ARKG.
• Ark Invest bought 37638 shares of RECURSION PHARMACEUTICALS (NASDAQ:RXRX) through ARKG.
• Ark Invest sold 249538 shares of CODEXIS INC (NASDAQ:CDXS) through ARKG.
• Ark Invest sold 249507 shares of PHENOMEX INC (NASDAQ:CELL) through ARKG.

Read Next: Palantir Post-Q2 Earnings: Share Price Dip Doesn’t Deter Cathie Wood; Ark Invest Buys $14M Worth Of Shares