On Wednesday, Cathie Wood-led Ark Invest made significant trades, notably acquiring shares in Robinhood Markets Inc. HOOD, ARK 21Shares Bitcoin ETF ARKB, and 3iQ Solana Staking ETF.
The Robinhood Trade
Ark Invest’s flagship fund, ARK Innovation ETF ARKK, purchased 60,266 shares of Robinhood Markets Inc. on Wednesday. The trade, valued at approximately $2.45 million, was made as Robinhood’s stock faced a sharp decline. The stock closed at $40.66, down 7.76% on Wednesday following Powell’s remarks about inflation and trade tariffs, which spooked the market. Robinhood, heavily reliant on retail trading, is particularly sensitive to such market volatility. Robinhood’s user base, largely consisting of retail investors,…
