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 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 ARKW and Ark Fintech Innovation ETF 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. ADYEY 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 CRSP through ARK Genomic Revolution ETF ARKG.
• Ark Invest bought 32165 shares of ADAPTIVE BIOTECHNOLOGIES ADPT through ARKG.
• Ark Invest bought 37638 shares of RECURSION PHARMACEUTICALS RXRX through ARKG.
• Ark Invest sold 249538 shares of CODEXIS INC CDXS through ARKG.
• Ark Invest sold 249507 shares of PHENOMEX INC CELL through ARKG.

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