Cathie Wood’s Ark Invest Doubles Down: Snags $14M in Robinhood Shares Amid Market Turbulence

Ark Invest just made a bold move—while Wall Street flinches, Cathie Wood's fund gobbled up $14 million worth of Robinhood shares. Is this contrarian genius or reckless optimism?

Robinhood’s rollercoaster ride continues

The trading app—once the darling of meme-stock mania—has been battered by crypto winters and regulatory heat. Yet Ark’s latest buy signals unshakable faith in the platform’s disruptive potential. Or maybe they just love buying the dip.

Wood’s gamble: fintech rebound or dead cat bounce?

With HOOD shares still miles below their ATH, this could be a masterstroke… or another ‘innovation’ bet that craters like her 2022 metaverse plays. Either way, it’s a $14 million middle finger to short sellers.

Bonus jab: Nothing says ‘conviction’ like doubling down on a stock that made millennials hate hedge funds—while acting like one.

Ark Invest’s Continued Interest in Robinhood

Cathie Wood’s ARK has been seeking long-term capital growth from global players that benefit from disruptive innovation. Robinhood, for instance, saw a soaring customer base of 26.5 million in July, a significant increase from the previous month.

Besides, Robinhood’s crypto revenue jumped 98% to $160 million, fuelled by higher trading volumes.

Robinhood also timed the Bitstamp acquisition well, at a time when Bitcoin adoption is rapidly spreading through institutions globally. Additionally, the firm expanded its product range, launching USDG, a fully regulated stablecoin in the EU.

Per Yahoo Finance data, Robinhood stock closed at $115.02 on Monday, a 0.74 % increase. Further, the stock has gained 4.81% since last month and 208.70% year-to-date.

Did ARK Sell Robinhood Shares Before?

As reported earlier, Cathie Wood’s investment vehicle sold $5.8 million of Robinhood shares last month, along with $6.5 million worth of Coinbase Global shares.

The rally in stock sales followed as bitcoin rose to new all-time highs, hitting $118,080, in early July. Later, the world’s largest crypto soared above $124.4K.

Meanwhile, Robinhood is facing scrutiny in the US, as Florida’s attorney general opened an investigation into its crypto division, claiming that it marketed itself as the “least expensive way to purchase crypto.”