Robinhood turns higher on day after weak debut; Cathie Wood’s Ark buys 1.3 million shares

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Reuters

(Reuters) -Shares of Robinhood Markets Inc shuffled between gains and losses on Friday, a day after star stock picker Cathie Wood picked up 1.3 million shares of the company for the ARK Invest fund during the online brokerage’s grim market debut. Robinhood’s shares were up around 3.7% at $36.10 in afternoon trading, after losing more than 8% on Thursday and falling earlier in Friday’s session. Market watchers attributed part of the shares’ weakness to a comparatively cold reception from retail investors who have fueled rallies in the shares of other so-called “meme stocks,” as well as Robinhoo…

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