{"id":46948,"date":"2021-07-30T11:16:20","date_gmt":"2021-07-30T08:16:20","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=46948"},"modified":"2025-09-01T18:56:54","modified_gmt":"2025-09-01T15:56:54","slug":"ark-invest-buys-nearly-1-3-million-robinhood-shares-on-first-day-of-trading","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ark-invest-buys-nearly-1-3-million-robinhood-shares-on-first-day-of-trading\/","title":{"rendered":"ARK Invest buys nearly 1.3 million Robinhood shares on first day of trading"},"content":{"rendered":"<p>ARK Investment Management&#8217;s Cathie Wood bought 1,297,615 Robinhood shares through its ARKK fund on the day of the Nasdaq debut of the trading platform, according to <a href=\"https:\/\/www.coindesk.com\/ark-investment-management-robinhood-shares-nasdaq-debut\">CoinDesk<\/a>.<\/p>\n<p>On July 29, 2021, Robinhood <a href=\"https:\/\/u1f987.com\/en\/news\/robinhood-shares-begin-trading-on-nasdaq-valuation-around-32-billion\">conducted<\/a> its initial public offering (IPO). The opening price of HOOD shares was $38, giving the company a $32 billion market capitalization. Investors were offered 50 million shares.<\/p>\n<p>During the first trading day, shares fell to $33.35, and the closing price was $34.82 \u2014 8.37% below the open. The company&#8217;s market capitalization dropped to $29.1 billion. ARK Invest&#8217;s stake was about $45.2 million.<\/p>\n<p>Robinhood <a href=\"https:\/\/u1f987.com\/en\/news\/robinhoods-stock-market-debut-among-the-worst-in-the-united-states\">proved to be the worst<\/a> of the 51 companies that raised comparable capital through an IPO.<\/p>\n<p>ARK Invest focuses on investing in disruptive technologies, including artificial intelligence, robotics, fintech and blockchain. Under its strategy, the firm buys shares it forecasts will more than double in five years.<\/p>\n<p>Assets under management stand at $52.85 billion.<\/p>\n<p>In April, ARK Invest purchased 749,205 Coinbase shares on the <a href=\"https:\/\/u1f987.com\/en\/news\/coinbase-shares-begin-trading-on-nasdaq-market-capitalisation-tops-100bn\">first day of trading<\/a> on Nasdaq. The closing price at the time was $328.28. The firm subsequently bought another 341,186 shares under the COIN ticker.<\/p>\n<p>As of writing, the shares were valued at $235.78 per share.<\/p>\n<p>In July, ARK Invest <a href=\"https:\/\/u1f987.com\/en\/news\/ark-invest-increases-stake-in-square-after-defi-platform-launch-announcement\">increased its stake<\/a> in Jack Dorsey\u2019s payments company Square, after the firm announced plans for a Bitcoin-focused platform for decentralized services.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ARK Investment Management&#8217;s Cathie Wood bought 1,297,615 Robinhood shares through its ARKK fund on the Nasdaq debut day of the trading platform, according to CoinDesk.<\/p>\n","protected":false},"author":1,"featured_media":46949,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1218,52,1234],"class_list":["post-46948","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ark-invest","tag-investments","tag-robinhood"],"aioseo_notices":[],"amp_enabled":true,"views":"31","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46948","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=46948"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46948\/revisions"}],"predecessor-version":[{"id":46950,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46948\/revisions\/46950"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/46949"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=46948"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=46948"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=46948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}