Reported 4 months ago
Cathie Wood, CEO of ARK Invest, recently acquired shares of Shopify Inc despite a 26% drop in its stock price following disappointing first-quarter results. Shopify's revenue increased by 23% compared to the previous year, and its gross margin is projected to contract slightly in the second quarter. Despite the challenges, Shopify remains optimistic about its growth potential and profitability, emphasizing its success in various business aspects during a recent conference call.
Source: YAHOO