Cathie Wood’s Ark Invest Purchases $9.5M Worth Of Robinhood Shares, Downsizes Holdings Of Grayscale Bitcoin Investment Trust
On Wednesday, in a significant move, Cathie Wood-led Ark Invest purchased over $9.5 million worth of shares in Robinhood Markets Inc (NASDAQ:HOOD), signaling a bullish stance on the brokerage firm despite its mixed third-quarter earnings report. The Robinhood Trade Ark purchased 1,141,046 Robinhood shares through its flagship ARK Innovation ETF (NYSE:ARKK) as well as ARK Next Generation Internet ETF (NYSE:ARKW) and Ark Fintech Innovation ETF (NYSE:ARKF). The transaction was valued at $9.53 million, based on Robinhood’s closing price of $20.42. Ark Invest’s acquisition of Robinhood shares comes…