PATH - Cathie Wood-Led Ark Invest Sells Nearly $28M Worth Of Robinhood Shares Amid Crypto API Launch And Lackluster Bitcoin Price Action | Benzinga
On Thursday, Cathie Wood-led Ark Invest made notable adjustments to its portfolio, including a significant sell-off of Robinhood Markets Inc (NASDAQ:HOOD) shares. This move comes as Robinhood launches a new cryptocurrency trading API.
The HOOD Trade
Ark Invest’s decision to reduce its position in Robinhood occurred amidst the fintech company’s announcement of a cryptocurrency trading API. The trade involved selling 857,676 shares from the ARK Innovation ETF (NYSE:ARKK) and 113,102 shares from the Ark Fintech Innovation ETF (NYSE:ARKF). The firm also sold 207,276 shares from ARK Next Generation Internet ETF (NYSE:ARKW). ...