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ARK Invest, led by Cathie Wood, purchased 553,892 shares of Robinhood Markets (HOOD) valued at approximately $39.4 million, distributing the trade across its ARKK, ARKW, and ARKF ETFs. The acquisition occurred on the same day Robinhood's stock plummeted 13.2% to close at $71.20 following earnings results that fell below market expectations. Simultaneously, the firm reduced its exposure to the ARK 21Shares Bitcoin ETF (ARKB), selling shares worth roughly $6.1 million. This tactical move highlights Wood's strategy of 'buying the dip' in fintech equities while rebalancing crypto-related holdings. The significant investment suggests a long-term bullish outlook on the trading platform despite the immediate post-earnings sell-off. Investors continue to monitor these adjustments as ARK navigates high-growth sectors amid market volatility.
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