Cathie Wood’s investment firm, ARK Invest, has recently sold off $36 million worth of stock in the popular trading app Robinhood. The decision to dump the stock comes amidst a turbulent time for the company, which has faced scrutiny and backlash for its handling of the GameStop trading frenzy earlier this year.
ARK Invest, known for its bold and innovative investment strategies, made the move to offload Robinhood shares as part of its portfolio adjustments. The firm’s founder and CEO, Cathie Wood, is renowned for her forward-thinking approach to investing in disruptive technologies.
The decision to sell off Robinhood stock may reflect concerns about the company’s long-term prospects, as well as potential regulatory challenges it could face in the future. Despite the sell-off, ARK Invest continues to hold a diverse portfolio of innovative companies in various sectors, reflecting its commitment to staying ahead of the curve in the ever-evolving world of finance.