ARK Invest Buyout: $9.5 Million HOOD Shares Acquired Following Robinhood's European Expansion

November 17, 2023: Cathie Wood’s ARK Invest continues to display its confidence in Robinhood Markets, Inc. (HOOD) by acquiring a substantial stake in the company’s shares. The investment firm purchased a combined 1,141,046 shares worth approximately $9.54 million, based on Wednesday’s closing price of $8.36.

This significant purchase comes just one day after Robinhood announced plans to expand its brokerage operations into the United Kingdom. The company’s expansion into Europe is seen as a significant growth opportunity, and ARK Invest’s investment signals its belief in Robinhood’s ability to succeed in this new market.

The purchase was made across three of ARK Invest’s innovation exchange-traded funds (ETFs): ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF). ARKK allocated the largest share of the purchase, acquiring 888,500 Robinhood shares, while ARKW and ARKF purchased 152,849 shares and 99,697 shares, respectively.

ARK Invest’s investment in Robinhood clearly indicates the firm’s bullish outlook on the company’s future. Robinhood’s commitment to innovation and its focus on providing a user-friendly trading platform has made it a popular choice among retail investors, and ARK Invest believes these factors will continue to drive the company’s growth.

With this latest purchase, ARK Invest has further solidified its position as a significant shareholder in Robinhood. The firm now holds approximately 1.5% of its outstanding shares, making it one of Robinhood’s top institutional investors.

ARK Invest’s continued support of Robinhood is a testament to the company’s potential to revolutionize the financial services industry. As Robinhood expands its global reach and introduces new products and services, ARK Invest will likely remain a key investor in its success.