$SHOP Sunk, Will You Follow Cathie Wood $ARKF to Buy the Dip?

Trend_Radar
05-09

The $Shopify Inc(SHOP)$ crashed today after it lost $270 million in the first quarter

  • Shares down 20%

  • Market cap down $20 billion

  • Gains from the last 12 months wiped out Since peaking in November 2021 shares are down 63%

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However, Cathie Wood and Ark Invest $ARK Fintech Innovation ETF(ARKF)$ bought over 482K shares of $Shopify Inc(SHOP)$ today.

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The ratings for $Shopify(SHOP)$ from tipranks are moderate buy and with an average targets to $83.07(an 32.42% increase)

Are you buying the $Shopify(SHOP)$ dip?

Technicallly, seems $ARK Fintech Innovation ETF(ARKF)$ finding support at logical levels. It’s top 5 holdings are $Coinbase Global, Inc.(COIN)$ , $Block(SQ)$ , $Shopify Inc(SHOP)$ , $DraftKings Inc.(DKNG)$ $UiPath(PATH)$ $Robinhood(HOOD)$

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# Shopify Plunges 19%: Will You Buy the Dip Under $60?

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  • LisaEffie
    ·05-09
    It's fascinating to see how $SHOP has been performing lately.
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