Cathie Wood’s Ark Invest made significant trades on Monday, including the purchase of Shopify Inc (NYSE:SHOP) shares and the sale of Block Inc (NYSE:SQ) shares.
In the Shopify trade, Ark Invest’s ETFs bought a total of 313,923 shares of Shopify, valued at approximately $18.45 million. This move came after Shopify released its first-quarter earnings report, which initially caused a drop in the company’s stock price.
On the same day, Ark Invest sold 110,334 shares of Block Inc across its ETFs. This decision followed Block’s stock price surge after its first-quarter earnings report and strategic Bitcoin investment.
Other key trades included buying shares of Roblox Corp (RBLX) and selling shares of Global-E Online Ltd (GLBE) and Verve Therapeutics Inc (VERV). ARKG sold shares of Verve Therapeutics Inc (VERV) and bought shares of Recursion Pharmaceuticals Inc (RXRX). ARKQ sold stock of Velo3D Inc (VLD) and ARKX bought shares of Iridium Communications Inc (IRDM).
Overall, these trades reflect Ark Invest’s strategic moves in the market to capitalize on emerging trends and opportunities.