ARK Invest, the crypto-friendly asset manager founded by Cathie Wood, has sold another large chunk of its Robinhood (HOOD) stock. On Oct. 8, ARK sold off a total of 1.4 million Robinhood shares across its three funds, worth $36.4 million. The sale comes as ARKâs Robinhood holdings are approaching 5% of the portfolioâs total weight. Robinhood stock is up more than 100% since the beginning of the year, hitting multi-year highs. ARK also holds a $368 million position in Coinbase stock. Share your thoughts in the comments!
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