TDY - Cathie Wood-LedArk Invest Cuts Robinhood Holdings Amid Bitcoin Dip Keeps Selling Moderna Stock — Buys Palantir And AMD Shares | Benzinga
On Wednesday, Ark Invest, led by the influential investor Cathie Wood, executed notable trades involving Robinhood Markets Inc (NASDAQ:HOOD), Moderna Inc (NASDAQ:MRNA), Palantir Technologies Inc (NYSE:PLTR), and Advanced Micro Devices Inc (NASDAQ:AMD).
The HOOD Trade
Ark Invest reduced its stake in Robinhood Markets Inc across multiple funds. The ARK Fintech Innovation ETF (NYSE:ARKF) sold 113,329 shares. Similarly, the ARK Innovation ETF (NYSE:ARKK) offloaded 444,823 shares, and the ARK Next Generation Internet ETF (NYSE:ARKW) parted with 35,582 shares. The transaction amounted to $12.51 million.
This week, Robinhood’s shares surged after the company’s board of directors authorized the share repurchase program, aiming to return value to shareholders as the business and cash flow continued to grow. Management plans to complete the buyback over a two- to three-year ...