Cathie Wood's ARK Invest Reinvests in Robinhood Stock Amid Business Growth
ARK Innovation ETF, managed by Cathie Wood’s ARK Invest, has resumed buying shares of Robinhood (NASDAQ: HOOD) after selling them for much of the summer. The firm added 28,589 and then 27,083 more shares in early September following a period where it had sold large blocks as recently as August 26. The purchases coincide with positive developments at Robinhood, including strong performance from its event contracts business, which outpaced crypto trading revenue. In Q2, event contract revenues surged over tenfold year-over-year to $156 million and continued growing in August despite a slight monthly decline. Additionally, customer assets on the platform reached $384 billion by end of August — up 26% from last year. Margin balances also rose significantly, reaching $21.5 billion at month-end, reflecting increased borrowing activity among users to invest further. These trends suggest deeper user engagement and a growing asset base that could support future revenue streams for Robinhood.
