ARK Invest Buys $9.1 Million in Robinhood Stock, Reaches Six-Month High

ARK Invest purchased approximately $9.1 million worth of Robinhood stock on October 29, marking the largest buy since April 29. Previously, ARK sold about $47.5 million in Robinhood stock between October 6 and October 9, when the stock closed between $107 and $112. This purchase occurred after Robinhood released its third-quarter earnings report, which showed a 55% year-over-year decline in cryptocurrency trading revenue to $120 million, and a 38% drop in cryptocurrency trading volume to $50 billion.

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