ARK Invest started dumping large amounts of Robinhood stock for the first time after aggressively buying HOOD shares last year.
ARK Invest, the investment management firm founded by veteran investor Cathie Wood, started dumping large amounts of stock of the cryptocurrency-friendly broker-dealer Robinhood (HOOD).
On March 25, ARK dumped 1.6 million Robinhood shares from its three funds, according to a trade notification seen by Cointelegraph.
The amount is worth $31.5 million, based on HOOD’s closing price of $19.08 on Monday, according to data from TradingView.
