Cathie Wood's ARK Invest Increases Stake in Shopify, Adding Over $55 Million in Shares

Published 3 hours agoSHOP

Cathie Wood's ARK Invest Increases Stake in Shopify, Adding Over $55 Million in Shares

ARK Investment Management, led by Cathie Wood, has significantly increased its investment in Shopify Inc., demonstrating strong confidence in the e-commerce platform's potential. On May 13, 2024, ARK acquired 313,923 shares valued at approximately $18.5 million across its ETFs, ARKK, ARKW, and ARKF. This strategic move follows a previous investment on May 8, 2024, when ARK purchased 482,042 shares worth $37.1 million, reflecting a bullish stance on Shopify's future.

Earlier, on February 17, 2023, ARK made a significant purchase of 776,835 Shopify shares, which were valued at over $34.8 million at the time. Collectively, these actions highlight ARK's strategy to capitalize on Shopify's growth capabilities within the ever-expanding e-commerce sector. The investments across multiple ETFs showcase a diversified yet focused approach, aimed at benefiting from digital commerce trends.

Shopify Inc.'s recent stock activity saw it priced at $89.24, with a slight decrease of $4.76 or 0.05% from the previous close. The stock opened at $94.2, with a trading volume of 4,749,083. The intraday prices fluctuated between a high of $94.83 and a low of $88.95, reflecting ongoing volatility in the market. These strategic investments by ARK Investment Management underscore their commitment to companies poised to benefit significantly from the accelerated shift to digital retailing.

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Cathie Wood's ARK Invest Increases Stake in Shopify, Adding Over $55 Million in Shares

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3 hours agoSHOP

ARK Investment Management, led by Cathie Wood, has significantly increased its investment in Shopify Inc., demonstrating strong confidence in the e-commerce platform's potential. On May 13, 2024, ARK acquired 313,923 shares valued at approximately $18.5 million across its ETFs, ARKK, ARKW, and ARKF. This strategic move follows a previous investment on May 8, 2024, when ARK purchased 482,042 shares worth $37.1 million, reflecting a bullish stance on Shopify's future. Earlier, on February 17, 2023, ARK made a significant purchase of 776,835 Shopify shares, which were valued at over $34.8 million at the time. Collectively, these actions highlight ARK's strategy to capitalize on Shopify's growth capabilities within the ever-expanding e-commerce sector. The investments across multiple ETFs showcase a diversified yet focused approach, aimed at benefiting from digital commerce trends. Shopify Inc.'s recent stock activity saw it priced at $89.24, with a slight decrease of $4.76 or 0.05% from the previous close. The stock opened at $94.2, with a trading volume of 4,749,083. The intraday prices fluctuated between a high of $94.83 and a low of $88.95, reflecting ongoing volatility in the market. These strategic investments by ARK Investment Management underscore their commitment to companies poised to benefit significantly from the accelerated shift to digital retailing.

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