Cathie Wood sells $12 million in Robinhood shares
Cathie Wood’s investment firm ARK Invest sold 144,218 shares of Robinhood Markets, valued at $12 million.
The sale occurred on May 29, when Robinhood’s stock surged 11% to $94.40 after launching AI-powered trading agents.
ARK Invest also sold shares of Teradyne and Intercontinental Exchange, worth $8.88 million and $66,000 respectively, and bought $16.16 million worth of Kratos Defense shares.
The firm’s moves come as Robinhood joins the S&P 500 index, having gone public in July 2021.