ARK Invest buys about $9.1 million of Robinhood shares, largest purchase in 6 months

Oct 29 — According to CoinDesk, Cathie Wood's ARK Invest bought about $9.1 million worth of Robinhood shares on Wednesday, its largest purchase of the stock since April 29. Earlier this month, ARK had sold off, offloading about $47.5 million worth of Robinhood shares between Oct 6 and Oct 9, when the stock closed between $107 and $112.

The purchase came after Robinhood released its third-quarter earnings. The results showed that its crypto trading revenue fell 55% year-over-year to $120 million, while crypto trading volume dropped 38% to $50 billion.