ARK Invest will load Robinhood stock before the “Take Flight” event.
ARK Invest, Cathy Wood's investment firm focused on disruptive technology sectors, has acquired 158,587 shares of Robinhood (HOOD) ahead of the brokerage's “fly-by” event scheduled for tomorrow at 7:30 p.m. on the 30th.
In addition to HOOD, ARK Invest has accumulated shares of Coinbase, CoreWeave, Tesla and Alibaba.
Flight is Robinhood's flagship event focused on the company's continued growth and product expansion. It will be held live at the TWA Hotel at JFK Airport and will feature keynotes from Robinhood CEO Vlad Tenev and other senior executives.
Robinhood is expected to unveil new products and tools during the event aimed at helping users with wealth management and financial planning.
Robinhood has continued its transformation into a super app model with the recent introduction of AI-powered features and service expansion in line with the cooling crypto market headwinds.
HOOD fell 3% to $76 on Tuesday, according to Yahoo Finance data. The stock is down 33% year-to-date due to a drop in cryptocurrency trading revenue.
Disclosure: This article was edited by Vivian Nguyen. See our Editorial Policy for more information on how we create and review content.
