Cathie Wood's ARK Invest shows a history of risky, high-value technology bets, and many of her moves seem drawn straight from the user-generated pages of Reddit. " It was largely the Reddit trading community that spurred the market onwards in early 2021, driving up so-called "meme stocks," such as GameStop (NYSE: GME) and AMC Theaters (NYSE: AMC) . Two ARK Invest EFTs picked up over $14 million in Robinhood (NASDAQ: HOOD) , with major purchases in November -- and like many Cathie Wood moves, it could be a smart, if exceptionally risky investment choice.
Maybe Cathie Wood and her crew are banking on Robinhood hitting an all-time low before recovering, or maybe just the anniversary of the events such as the "meme stock" revolution could drive up speculation of a second round in the media and spur on those same Reddit trading communities. If any one of these possibilities pans out, savvy traders could benefit from snapping up shares at the current low prices.
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Is Another Robinhood Retail Revolution Around the Corner?