Cathie Wood Sees Opportunity in Robinhood's Crypto Weakness? Ark Buys HOOD Stock Worth 34 Million, Dumps Airbnb Ahead Of Earnings

On Wednesday, Cathie Wood-led Ark Invest made a bold move by significantly increasing its position in Robinhood Markets Inc. (NASDAQ:HOOD), acquiring over 433,000 shares across multiple ETFs despite the stock’s 8% drop following a 38% plunge in crypto revenue. Ark also purchased shares of Figma Inc. (NYSE: FIG) on the same day and sold a substantial amount of Airbnb Inc. (NASDAQ: ABNB) stock.

The Robinhood Trade

ARK Blockchain & Fintech Innovation ETF (BATS:ARKF), ARK Innovation ETF (BATS:ARKK) and ARK Next Generation Internet ETF (BATS:ARKW) collectively purchased 433,806 shares of Robinhood. The buys came right after the Vlad Tenev-led company disclosed weaker-than-expected cryptocurrency transaction revenue of $221 million, down sharply year-over-year, which pressured the stock.

The trade on Wednesday was estimated to be worth $33.9 million based on Robinhood stock’s closing price of $78.07.

The Figma Trade

ARKW added 280,138 shares of Figma as the collaborative design platform gained traction. Shares rose after JPMorgan analysts predicted a software-sector rebound, positioning Figma favorably amid AI-driven workflow shifts. The transaction was worth $6.3 million as Figma stock closed at $22.57 for the day.

The Airbnb Trade

Ark trimmed holdings in Airbnb across ARKF, ARKK, and ARKW, selling a net 186,754 shares. The value of the shares sold was estimated at $22.3 million based on Airbnb’s stock price of $119.55.

The adjustments precede Airbnb’s upcoming earnings. The company is set to report quarterly earnings on Thursday, with analysts estimating EPS of $0.66, as investors look for a potential beat and upbeat guidance.

Other Key Trades:

• ARK funds bought 75,559 shares of Circle Internet Group Inc. (CRCL) across ARKF, ARKK and ARKW.
• Acquired 364,134 shares of Bullish (BLSH) in ARKF, plus for ARKK and ARKW.
• Added 150,421 shares of Shopify Inc. (SHOP) for ARKF, ARKW and ARKK.
• Sold 413,038 shares of Pinterest Inc. (PINS) combined from ARKF and ARKW.
• Offloaded 486,741 shares of Unity Software Inc. (U) from ARKW.

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

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