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On Thursday, Cathie Wood-led Ark Invest made notable trades, prominently increasing its stake in Robinhood Markets Inc. (NASDAQ:HOOD).
ARK Innovation ETF (BATS:ARKK) and ARK Next Generation Internet ETF (BATS:ARKW) collectively acquired a total of 124,427 shares of Robinhood. The purchase was valued at approximately $15.35 million, based on Robinhood’s closing price of $123.38.
This acquisition follows Robinhood’s recent initiatives to broaden its crypto services, including the introduction of new trading pairs for XRP (CRYPTO: XRP), Solana (CRYPTO: SOL), and Dogecoin (CRYPTO: DOGE) in European markets. The expansion aims to attract advanced traders, offering up to 7x leverage on perpetual futures pairs.
Despite these strategic expansions, Robinhood’s stock declined 9.05% on Thursday. The drop followed a performance snapshot revealing slower trading activity in November, though deposit growth and margin balances increased. Analyst Craig Siegenthaler from Bank of America Securities maintained a Buy rating on the stock but adjusted the price target from $166 to $154.
This adjustment reflects the current market conditions and Robinhood’s ongoing efforts to penetrate new markets, such as its recent entry into Indonesia.
Other Key Trades:
Benzinga Edge Stock Rankings show that Robinhood has a Momentum in the 97th percentile. Here is how the stock ranks on other parameters.

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Photo Courtesy: Ira Lichi on Shutterstock.com
This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal