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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 -3.46% , the flagship fund of Cathie Wood's Ark Investment Management, purchased nearly 1.3 million shares of Robinhood Markets /zigman2/quotes/228268942/composite HOOD -0.15% 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
$ 112.98
-4.05 -3.46%
Volume: 3.53M
Sept. 28, 2021 10:32a
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/zigman2/quotes/228268942/composite
US : U.S.: Nasdaq
$ 44.69
-0.07 -0.15%
Volume: 2.02M
Sept. 28, 2021 10:31a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$38.29 billion
Rev. per Employee
N/A
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