Cathie Wood’s Ark Invest Continues Loads Up On $6.05M Worth Of Robinhood Shares Amid Bitcoin Rebound, Dumps Zoom Stock – Robinhood Markets (NASDAQ:HOOD)

On Thursday, Cathie Wooden-led Ark Invest made some vital trades, notably shopping for Robinhood Markets Inc HOOD and promoting Zoom Video Communications Inc ZM.

The Robinhood Commerce

Ark Invest’s choice to buy Robinhood shares comes within the wake of the buying and selling platform’s impressive second-quarter revenue beat. The funding agency purchased a complete of 341,432 shares of Robinhood by means of its ARK Fintech Innovation ETF ARKF, ARK Subsequent Era Web ETF ARKW and ARK Innovation ETF ARKK. as detailed in this Benzinga article. The worth of this commerce, primarily based on the most recent closing value of $17.73, is roughly $6.05 million

This week, wooden loaded up on Robinhood shares as the corporate declared a income beat. Ark purchased $2.49 million worth of shares on Wednesday.

Considerably, Robinhood’s cryptocurrency income shot up 161% on a y-o-y foundation. In the meantime, Bitcoin BTC/USD and different main cash additionally saw a rebound after crashing with equities market earlier within the week.

The Zoom Commerce

On the identical day, Ark Invest bought 161,836 Zoom shares. The agency offloaded shares from ARKK and ARKW. The worth of this commerce, calculated from the most recent closing value of $56.21, is roughly $9.1 million.

Zoom had beforehand reported a primary-quarter earnings beat in Might, with income of $1.14 billion, surpassing the consensus estimate of $1.13 billion. The corporate additionally reported seven straight quarters of beating analyst estimates on the highest and backside traces. The corporate’s second-quarter outcomes are anticipated on Aug. 21.

See Additionally: Elon Musk Says Warren Buffett Is ‘Clearly Expecting A Correction’ After Berkshire Sold Nearly Half Of Its Apple Stock

Different Key Trades:

• Ark Invest purchased 246 shares of Amazon.com Inc AMZN by means of numerous ETFs. The transaction was valued at $40,789.
• The agency bought shares of Discovery Ltd (DSY) from its ARKF fund.
• Shares of Guardant Well being Inc GH have been additionally bought.
• Ark Invest bought shares of Vertex Prescription drugs Inc (VRTX).

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This story was generated utilizing Benzinga Neuro and edited by Shivdeep Dhaliwal