Ark Invest, led by Cathie Wood, has significantly increased its stake in Robinhood by purchasing 45,792 shares, valued at over $800,000, during a recent market downturn.
This move aligns with Ark’s strategy of investing in technology stocks during dips.
The addition follows a period of decline for Robinhood’s stock, which dropped more than 22% over the past month.
Despite this, Ark Invest’s recent acquisitions also include substantial investments in Coinbase and Alphabet, reflecting confidence in the tech sector’s rebound.
Robinhood’s latest quarterly report showed a remarkable 161% increase in crypto revenue, contributing to a recent 10% recovery in its stock price.
Bank of America highlights growing retail engagement and positive operating leverage as factors driving optimism for Robinhood’s stock.
CEO Vlad Tenev has observed that, despite market volatility, investor interest remains strong, with many choosing to buy rather than sell Robinhood shares.
In a move not seen in decades, the U.S. Treasury Department has initiated a historic $10 billion bond buyback—its largest ever—targeting securities set to mature between mid-2025 and mid-2027.
In a bold move to reshape the future of ApeCoin, Yuga Labs has introduced a proposal that would dissolve the existing ApeCoin DAO and replace it with a streamlined management body called ApeCo.
Circle’s arrival on the New York Stock Exchange sent shockwaves through the market, and Cathie Wood’s ARK Invest wasted no time jumping in.
WazirX’s bid to restructure and compensate victims of a $230 million hack has been rejected by the Singapore High Court, putting the exchange’s recovery roadmap in limbo.