Reported about 1 month ago
Cathie Wood, the prominent fund manager of Ark Invest, recently sold 391,668 shares of Robinhood Markets, valued at approximately $10.5 million. This move precedes Robinhood's positive earnings report and comes as the stock has surged 110% this year after hitting a low following the end of Covid-stimulus payments. Despite this sale, Wood continues to advocate for investing in disruptive innovation, although Ark Innovation ETF has seen significant outflows amid mixed performance.
Source: YAHOO