On Monday, Cathie Wood’s Ark Invest made some significant trades, the most notable being the purchase of Shopify Inc (NYSE:SHOP) shares and the sale of Block Inc (NYSE:SQ) shares.
The Shopify Trade
Ark Invest’s ETFs, including Ark Fintech Innovation ETF (NYSE:ARKF), ARK Innovation ETF (NYSE:ARKK), and ARK Next Generation Internet ETF (NYSE:ARKW), purchased a total of 313,923 shares of Shopify on Monday. This move came after the company released its first-quarter earnings report earlier in the month. The trade was valued at approximately $18.45 million, based on Shopify’s closing price of $58.78 on the day.
Earlier this month, Benzinga reported that Shopify’s shares had tanked after the company reported its first-quarter results, with analysts expressing concerns about the company’s profitability.
The Block Inc Trade
On the same day, Ark Invest sold a total of 110,334 shares of Block ...Full story available on Benzinga.com
Related tickers: ARKW, ARKK, SHOP, SQ, ARKF.
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