- As per Robinhood’s last closing price of $71.12, Wood invested $12.4 million in the company.
- On Thursday, ARK bought a total of 174,677 shares of Robinhood, with 123,460 shares purchased by its ARKK ETF.
- Bitcoin is currently trading 1% lower over the last 24 hours at around $66,300.
Shares of Robinhood are continuing their post-earnings weakness, and Cathie Wood is buying the dip with Ark Investment Management snapping up nearly 175,000 shares of the cryptocurrency firm on Thursday.
The company’s shares closed down nearly 9% on Thursday, marking a third consecutive session of losses, and settled at $71.12, their lowest closing level since June of last year. Robinhood stock reached an all-time high of $152.46 in October but has since lost more than half of its value.
Cathie Wood’s ARK Adds Across ETFs
On Thursday, ARK bought a total of 174,677 shares of Robinhood, with 123,460 shares purchased by its ARKK ETF and 32,435 shares purchased by its ARKW ETF, according to the Ark Invest Tracker on X. Another 18,782 shares were bought by ARKF ETF.
As per Robinhood’s last closing price of $71.12, Wood invested $12.4 million in the company. Wood’s Ark Investment has been buying weakness in Robinhood amid falling Bitcoin prices, driven by several factors, including macroeconomic developments and a weakness in tech stocks.
Bitcoin is currently trading 1% lower over the last 24 hours at around $66,300, well below the all-time high of above $126,000 reached in October.
Truist Securities lowered the firm's price target on Robinhood to $120 from $130 said its views the company's fourth-quarter earnings report as "frustrating." January was" better but not by much," said Truist, adding that it was still positive on the company's longer-term potential but says the shares could see short-term volatility.
HOOD’s Crypto Weakness: Revenue Drops 38%
On Tuesday, Robinhood reported that transaction-based revenue increased 15% to $776 million, driven by growth in options and equities revenue. The company, however, saw weakness in cryptocurrency revenue, which was down 38% to $221 million.
Wall Street has noted that Robinhood should benefit from non-crypto business, including the move into prediction markets. Robinhood said that in the fourth quarter, prediction market volumes more than doubled, with over $12 billion in contracts traded in 2025, the first full year of prediction markets.
What Is Retail Thinking About HOOD?
Retail sentiment on Robinhood jumped to ‘extremely bullish’ from ‘bearish’ territory a month ago, with message volumes at ‘extremely high’ levels, according to data from Stocktwits.
A user on Stocktwits said that they were “fully expecting a recovery by summer, though.”
In the last month alone, the retail message volumes on the stock jumped 738% on Stocktwits and the ticker witnessed more than 3% spike in followers on the platform.
Shares of Robinhood have gained % in the last 12 months.
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