ARK Invest Dumps $7.58 Million of Robinhood Shares

IconCryptoNewsTerminal Staff11 Jun, 2024

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ARK Invest Dumps $7.58 Million of Robinhood Shares

ARK Invest, the investment management firm led by Cathie Wood, sold off 323,801 shares of Robinhood (ticker: HOOD) on Friday, worth approximately $7.58 million. Notably, they did not sell any Coinbase shares that day. This sale marks a significant divestment from ARK Invest, which has been a vocal supporter of Robinhood in the past. However, the firm's recent actions suggest a shift in sentiment, potentially due to concerns about the company's long-term prospects.