SLGC - Cathie Wood Continues To Unload DraftKings Shares Picks Up Robinhood Stock Worth $4.75M | Benzinga
On Tuesday, Cathie Wood-led Ark Invest made significant trades, with a major focus on Robinhood Markets Inc (NASDAQ:HOOD). The firm’s decision to load up on Robinhood shares comes in the wake of the company’s recent achievements in the financial sector, as highlighted in recent reports.
The Robinhood Trade: On Tuesday, the Wood-led investment management company purchased 440,081 shares of Robinhood through ARK Innovation ETF (NYSE:ARKK) and Ark Fintech Innovation ETF (NYSE:ARKF). The transaction was valued at $4.75 million, based on Robinhood stocks’ closing price of $10.80.
A day prior, Ark Invest purchased a significant 406,432 shares of Robinhood through ARKK and Ark Fintech Innovation ETF ARKF. The transaction was valued at $5.67 million. This move aligns with Robinhood’s Q2 financial results, where the company achieved GAAP profitability for the first time as a public entity. Vlad Tenev, Robinhood’s CEO, expressed optimism about the company's future, emphasizing its commitment to innovation ...