Cathie Wood Invests $3.5 Million in Rebounding Robinhood Stock
On September 4, Cathie Wood's Ark Innovation ETF (ARKK) purchased approximately 28,589 shares of Robinhood Markets Inc (HOOD), valued at around $3.5 million based on the closing price of $122.11 per share. This move marks a reversal from recent sales as HOOD rebounds after hitting second-quarter lows amid broader market volatility and Bitcoin's decline to about $68,000. Wood has historically focused her investments in high-growth tech sectors such as AI, blockchain, biomedical technology, and robotics. While ARKK delivered strong returns during the pandemic—153% in 2020—it also experienced significant losses in bear markets like 2022 when it fell over 60%. Over five years through September 4, 2026, ARKK has an annualized return of -7.02%, underperforming the S&P 500's 11.22%. Despite recent outflows—$1.71 billion in net redemptions over the past year—Wood remains bullish on AI and its potential to drive corporate profits and economic growth, citing current U.S. pre-tax corporate profit levels at multi-decade highs.
Topics: ARKK Cathie Wood ETF performance Robinhood stock purchase