Cathie Wood recently doubled on Shopify while selling part of his participation in Coinbase.
#CathieWood #TradesNews #ShopifyCoinbase #Stocks
Macroeconomic uncertainty has become a sacred wind for many businesses, but global shopify and coinbase really feel the bite of the bear market. After growing at turbocharged speed throughout Pandemic, the two companies have seen the momentum failed because high inflation has put pressure on discretionary consumer expenditure. To manage costs better, Coinbase announced in mid -June that they would cut 18% of their workforce, and Shopify followed the announcement yesterday that they would reduce 10% of their own workforce. To further complicate problems, US Securities and Exchange Exchange were reported Investigate Coinbase on the grounds that they might have allowed investors to trade unregistered securities, causing shares to fall 20% in one day. The announcement has led to a significant decline in stock prices, accelerating the impact of disappointing financial results and weak guidelines. Coinbase and Shopify are currently 84% and 80% of the highest respectively. With regard to that background, CEO ARK Invest Cathie Wood sold 1.3 million coinbase shares on Tuesday, and bought 1.8 million shares of Shopify. Should investors follow his footsteps? Case for Shopify
Shopify simplifies trade. The software is uniting physical and digital display windows such as brick-and-mortar shops, online markets, and directly websites to consumers, which allow businesses to manage sales from one platform. Shopify also provides a number of added value services such as payment processing, discount delivery, and financing. In general, the DTC business model offers a greater level of control business over customer experience, allows them to build lasting relationships that produce repeated purchases. Shopify focus on DTC Commerce distinguishes it from marketplace operators such as Amazon, and extensive integration and service portfolios have made Shopify a leading E-Commerce software vendor measured by user satisfaction and market presence. Unfortunately, the soaring inflation is very burdensome to this business, and the company failed again in guidance in the second quarter. Revenue grew only 16% to $ 1.3 billion and Shopify posted a non-GAAP loss of $ 0.03 per share diluted, down from $ 0.22 positive per share diluted in the same quarter last year. Many investors are understood disappointed. Shopify has lost the momentum taken during Pandemi, and the situation may be worse because inflation continues to burden consumer expenses. However,
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