Cathie Wood's Ark Invest Continues To Sell Shopify Shares Amid Q2 Ripples
Portfolio Pulse from Benzinga Neuro
Ark Invest, led by Cathie Wood, continues to sell shares of Shopify Inc (NASDAQ:SHOP) across various ETFs, including ARK Innovation ETF (NYSE:ARKK), ARK Next Generation Internet ETF (NYSE:ARKW), and Ark Fintech Innovation ETF (NYSE:ARKF), despite Shopify's 31% YoY increase in revenue. Ark Invest also made significant purchases of shares in UiPath Inc (NYSE:PATH), Adaptive Biotechnologies (NASDAQ:ADPT), and Recursion Pharmaceuticals (NASDAQ:RXRX), while selling shares of Exact Sciences Corp (NASDAQ:EXAS) and Schrodinger Inc (NASDAQ:SDGR).
August 18, 2023 | 2:04 am
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NEGATIVE IMPACT
Ark Invest sold 10868 shares of Exact Sciences Corp.
The selling of Exact Sciences Corp shares by Ark Invest could lead to a negative short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Ark Invest offloaded 48019 shares of Schrodinger Inc.
The offloading of Schrodinger Inc shares by Ark Invest could lead to a negative short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Ark Invest continues to sell Shopify shares despite the company's positive Q2 results.
The continued selling of Shopify shares by Ark Invest, despite positive Q2 results, could lead to a negative short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Ark Invest acquired 170004 shares of Adaptive Biotechnologies.
The acquisition of a substantial number of Adaptive Biotechnologies shares by Ark Invest could lead to a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Ark Invest bought 657,982 shares of UiPath Inc.
The purchase of a significant number of UiPath shares by Ark Invest could lead to a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Ark Invest purchased 37868 shares of Recursion Pharmaceuticals.
The purchase of Recursion Pharmaceuticals shares by Ark Invest could lead to a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 60