Cathie Wood-led Ark Invest bought shares of Robinhood Markets Inc. (NASDAQ:HOOD) on Thursday, as the stock extended its slide following mixed fourth-quarter results. The firm also added to positions in Bitmine Immersion Technologies Inc. (NASDAQ:BMNR) amid crypto volatility and sold shares of Airbnb Inc. (NASDAQ:ABNB) after the company’s earnings report showed an EPS miss despite revenue beat.
The Robinhood Trade
ARK Blockchain & Fintech Innovation ETF (BATS:ARKF), ARK Innovation ETF (BATS:ARKK) and ARK Next Generation Internet ETF (BATS:ARKW) funds collectively purchased 174,677 shares of Robinhood signaling confidence despite the stock’s recent decline. The Ark transaction was valued at $12.4 million.
The Vlad Tenev-led company’s shares fell 8.20% to $71.51 on Thursday after posting mixed fourth-quarter results, beating profit expectations but missing on revenue a day earlier. Analysts maintain a Buy consensus with an average price target of $142, highlighting growth levers like prediction markets and international expansion.
Platform assets surged 68% year-over-year to $324 billion, with Robinhood Gold subscribers up 58% to 4.2 million. Notably, Ark had purchased the Robinhood dip on Wednesday after the earnings as well. Wood had scooped up shares worth $33.9 million at the time.
The Bitmine Immersion Technologies Trade
Across ARKF, ARKK, and ARKW, Ark Invest acquired 212,314 shares of Bitmine Immersion Technologies. The Ethereum (CRYPTO: ETH) treasury company holds 4.326 million ETH as of February 8, representing about 3.6% of supply, plus cash for a $10 billion position.
Shares traded marginally higher by 1.81% at $20.85 amid ETH price sensitivity, with staked ETH expected to generate over $370 million in annualized rewards. The Ark Invest transaction was valued at $4.2 million.
The Tom-Lee chaired company’s shares remain volatile, down significantly from recent averages but up 201.88% over the past year.
The Airbnb Trade
Ark Invest trimmed its stake by selling 259652 shares of Airbnb across ARKF, ARKK, and ARKW. This follows Airbnb Inc‘s mixed fourth-quarter earnings, where revenues beat but EPS missed expectations.
Other Key Trades:
- ARKK, ARKW and ARKF bought 134,595 shares of Roblox Corp (RBLX).
- ARKG and ARKK added 31,937 shares of CRISPR Therapeutics AG (CRSP).
- ARKG and ARKK purchased 210,301 shares of Tempus AI Inc (NASDAQ:TEM).
- ARKK, ARKF and ARKW sold 680,371 shares of DraftKings Inc (DKNG), respectively.
Benzinga Edge Stock Rankings indicate Robinhood stock has a Value in the 19th percentile and Momentum in the 44th percentile.
This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
Photo Courtesy: PJ McDonnell on Shutterstock.com
Recent Comments