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July 30, 2021, 5:07 a.m. EDT

Ark Innovation ETF bought $45 million worth of Robinhood on first day of trade

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By Steve Goldstein

The Ark Innovation ETF /zigman2/quotes/204808965/composite ARKK -1.85% , the flagship fund of Cathie Wood's Ark Investment Management, purchased nearly 1.3 million shares of Robinhood Markets /zigman2/quotes/228268942/composite HOOD -2.24% during its first day of trade, worth roughly $45 million. Robinhood shares slumped 8% as the initial public offering, targeted to Robinhood's own retail base, was greeted with tepid demand.

/zigman2/quotes/204808965/composite
US : U.S.: NYSE Arca
$ 117.13
-2.21 -1.85%
Volume: 5.08M
Sept. 24, 2021 4:00p
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/zigman2/quotes/228268942/composite
US : U.S.: Nasdaq
$ 44.91
-1.03 -2.24%
Volume: 6.06M
Sept. 24, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$38.42 billion
Rev. per Employee
N/A
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